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Egypt's Unemployment Rate Falls to 12.7 Percent

CAPMAS reports a decrease in unemployment rates and an increase in workforce growth.

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) has announced that Egypt’s unemployment rate has fallen to 12.7 percent in the first quarter of 2016, as opposed to 12.8 percent in the first and last quarters of 2015, reports Ahram Online.

The report also found that unemployment among females stands at 25.7 percent while only 8.9 percent of males are jobless. Urbanites registered a 15.2 percent unemployment rate as opposed to 10.9 percent in rural areas. But perhaps the most worrisome conclusion of all is that 27.3 percent of citizens aged 15-29 are unemployed.       

On the bright side, however, the study also found that the country’s workforce has grown by 2.6 percent.

The Egyptian government is aiming to reduce the county’s unemployment rate to less than 10 percent and achieve a growth rate of six percent or higher by the end of the 2018/19 fiscal year.

Further, Egypt’s GDP fell to 2.2 percent in the final quarter of 2015, as opposed to 3.7 percent in the final quarter of 2014, as per the ministry of planning.