Unemployment in egypt drops to 2011 levels asharq alawsat. Many people believe that its a good indication of the economys. The central bank of egypt official interest rate is the. Gross domestic product in current prices for egypt. Oman unemployment the economy remains under pressure in the second quarter. The elasticities approach to egypts balance of payments. Particularly as young people constitute the majority of the unemployed in egypt. Imf warned of egyptian youth jobless rate ahead of. By making use of a rich and yet rarely available dataset on household expenditures in egypt for two recent time periods 199596 and 19992000 we offer the first analysis of the evolution of poverty in egypt in late 1990s. Ezzat molouk kenawy kafr elsheikh university abstract. Unemployment rates in egypt fell during the third quarter of 2017 registering the lowest rate since 2011s first quarter, as national economic growth.
The economic development in egypt during the 19522007 period. The population in greater cairo is older than the rest of the egyptian population. The imf warned of dangerously elevated unemployment levels in egypt, especially highlighting high jobless youth rates, just two days ahead of thousands taking to the streets to protest the ruling. The central agency for public mobilization and statistics capmas said that unemployment rate during the third quarter of 2017 dropped 11. The unemployment rate gets plenty of media coverage. The unemployment rate in egypt decreased to 8 percent in the fourth quarter of 2019 compared to 8. In 2018, the unemployment rate in egypt was at approximately 11. For this reason, nep specifically targets applicants under the age of 35, for whom it aims.
Food represents 37 percent of egypts imports during the same period fao. Central agency for public mobilization and statistics in 20capmas. Currently, an estimated 2 million egyptians are out of work. This phenomena dubbed in literature as educated unemployment can be both. Youth and unemployment in egypt opinion ahram online. However, half of all those employed work in the shadow economy, with neither social nor health insurance and no employment rights.
The country once again experienced severe economic crisis and high levels of debt. According to egypt independent website egypt unemployment rate rises to 12. This statistic shows the unemployment rate in egypt from 1998 to 2018. Egypt is suffering from a chronic labor mismatch between market supply and demand. The situation is particularly difficult for young people. The coverage rate of imports by exports remains greatly contrasted. However, the high growth rate in the social services sector, and also in the much smaller electricity, gas, and water sector, reflects to a large extent the government sectors employment guarantee policy rather than real demand for labor. We also take advantage of multiple surveys in egypt to discuss patterns over time in that country. Foreign direct investment fdi has dominated economic literature, especially the development areas of economics, over the last thirty years, due to the potential effects it has. This ratio represents the percentage of people in the labor force without jobs whove been actively looking for work within a fourweek period.
Among the root causes are problems in the countrys. From 1991 until 20, egypt interest rate averaged 11. The demography of employment and unemployment in egypt. The government, the private institutions and the labor force need to cooperate in order to solve the problem of unemployment in egypt. Despite several years of high economic growth, unemployment remains a. The economic development in egypt during the 19522007. Egypts unemployment rate remained unchanged in the fourth quarter of 20 at.
Graph and download economic data for banks return on equity for egypt ddei06ega156nwdb from 1996 to 2017 about egypt, roe, banks, and depository institutions. This page provides egypt unemployment rate actual values, historical data, forecast, chart, statistics, economic calendar and news. This has promoted a steady increase of gdp and the annual growth rate. The problem of youth unemployment in egypt continues to fester and could reach a boiling point. This represents a response rate of 99% for evermarried women.
United states 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 0% 2% 4% 6% 8% 10% 12%. The research objective is analysing the stages of economic development that appeared in that period between 19522007. Conventional problems, unconventional remedies samir radwan working paper no. Financial intermediaries can now support the private sector and economic growth. In fact, if women in the working age population in egypt 1565 had the same unemployment rate of men, the national unemployment rate would drop to less than 10 per cent, according to data. The statistic shows the youth unemployment rate in egypt from 1998 and 2018. Egypt unemployment the economy likely lost steam in the third quarter of fy 2020, which ran from january to march, as cases of coronavirus rose both domestically and abroad and the government imposed strict containment measures to control its spread such as nighttime curfews and the closure of airports. The economy of egypt was a highly centralized economy focused on import substitution under. The upcoming budget seeks to lower the unemployment rate to 10. The challenge facing egypts youth 4 as noted earlier, the government had no strategy for absorbing tens of thousands.
The unemployment rate is the percentage of the total workforce that is unemployed and is looking for employment. Egypt has witnessed heightened political mobilization of young people in 2011, as part of what has been described in the media as the arab spring. Egypt food and agriculture organization of the united nations. Egypts gen ys in particular were not spared by the menace of youth unemployment, as the country suffers from a disturbingly high rate of 26%. The labor market in egypt is characterized by some dysfunctions that deepen unemployment problem including low female labor participation rate, underemployment, high level of informality as well as a high rate of youth unemployment 1829 years said, 2014. Leahy 2007 indicated that considerable proportion of the unemployed population is below 35 years. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Egypts unemployment rate had worsened with a popular uprising to oust former president hosni. Migration and development in egypt initiative for policy. In 2019, the unemployment rate in nigeria was at approximately 6. This is the first such study that we know of for egypt. The description is composed by our digital data assistant. To help reduce the spread of coronavirus cases nationally, the government has implemented containment measures in recent weeks such as travel restrictions, closing all schools and universities, as well as most shops and businesses. The number of unemployed persons went down by 162 thousand to 2.
The 2014 egypt demographic and health survey 2014 edhs was conducted on behalf of. In 2007, egypt had an average unemployment rate of 8. This statistic shows the unemployment rate in egypt from 1999 to 2019. Egypts unemployment rate eased slightly in the first quarter of 2016 to 12. Unemployment rate can be defined by either the national definition, the ilo harmonized definition, or the oecd harmonized definition. First, i present a descriptive analysis of the main characteristics of the egyptian economy with an overview of recent trends in trade and employment from a gender perspective. Egypt highlights 2019 incurred by a construction company on longterm contracts.
Vulnerability of the coastal zone of egypt to sea level rise. However, to control unemployment, egypt will need to generate about 800,000 new jobs each year in. The official unemployment rate in egypt is around per cent. This means that about one out of every three members of the labour force in africa does not work. In egypt, decisions on interest rates are made by the central bank of egypt cbe. However, the problem of youth unemployment continues undiminished. Unemployment has been and continues to be one of the most important challenges facing the various economic systems, where it results in negative impacts on the national economy. The same ratio continued to drop for egypt with 44% in 2012, compared to 49% in 2011. Our paper fills a critical gap in the literature on poverty in egypt for three reasons.
In addition, the youth unemployment rate increases with each level of educational attainment. Abstract two surveys of maternal mortality conducted in egypt, in 199293 and in 2000, collected data from a. Companies engaged in the exploration and production of oil and gas are taxed at a rate of 40. In the last 50 years the egyptian economy has known deep and. Graph and download economic data for gross domestic product in current prices for egypt egyngdpdusd from 2000 to 2020 about egypt, reo, and gdp.
Though egypt unemployment rate fluctuated substantially in recent years, it tended to increase through 1999 2018 period ending at 10. This page provides egypt employed persons actual values, historical data, forecast, chart, statistics, economic calendar and news. Youth unemployment in egypt is a central policy issue. Most of egypts population is concentrated in the nile valley and in urban areas where. Pdf economic study of unemployment in egypt and its. The social services sector continues to be an important and growing source of employment for both men and women. In 2018, the estimated youth unemployment rate in egypt was at 32. According to the source, the data are ilo estimates. This statistic shows the unemployment rate in nigeria from 1999 to 2019.
Pdf the effect of devaluation on output in the egyptian. The impact of labor market trends on unemployment rates. The relationship between unemployment and output in egypt. Egypt 2014 demographic and health survey key findings. As a premium user you get access to the detailed source references and background information about this statistic. Egypt demographic and health survey 2014 the dhs program. At the international level, egypt has embarked on major economic and trade. The objective of this paper is to analyze the relationship between exchange rate changes and output in the egyptian economy. The egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments fdi, a high budget deficit, a high debt rate, a high unemployment rate, a high poverty rate, and a low standard of living. The volume of labor force in egypt amounted to some 26. Egypt 2014 demographic and health survey key findings egypt 2014 key dd 45 42915 10. Evidence from egypt chahir zaki abstract this paper focuses on the nexus between trade, gender and employment in egypt. This paper examine the drivers of unemployment in mena from a dynamic perspective.