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Egypt's unemployment rate eases to 12.7pc

CAIRO, May 15, 2016

Egypt's unemployment rate eased slightly in the first quarter of 2016 to 12.7 percent from 12.8 percent in the previous quarter as well as the same quarter a year earlier, the statistics agency said on Sunday.

Analysts believe actual unemployment may be higher than the official figures.

Egypt has been struggling to restore economic growth since a 2011 uprising toppled autocrat Hosni Mubarak. The revolt was partly driven by anger about the lack of job prospects for young Egyptians.

Egypt's president Abdel Fattah al-Sisi had pledged to reduce joblessness to 10 percent over the next few years, a target that will require much higher levels of economic growth.

The country's labour force grew by 99,000 people in the first quarter to reach 28.4 million people, the agency said. - Reuters




Tags: Jobs | Egypt | Unemployment |

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