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Africa North

Egypt's unemployment rate drops to lowest rate in 30 years

2019-10-27

The gainfully employed are less likely to go a-jihading, always a good thing.

[AlAhram] Egypt's cabinet media center announced that the unemployment rate in Egypt reached the lowest level in 30 years with 7.5% in the second quarter of 2019, compared with 9.9% one year earlier.

The drop has been achieved thanks to main factors; including the implementation of 9,039 projects by the state during the period from July 2014 to December 2018 at a total cost of EGP 2.1 trillion, the center said in an info-graphic posted on its official website on Saturday.

The drop was also attributed to loans and facilities granted to companies and MSEs institutions at a value of EGP 144.2 billion during the period from December 2015 to June 2019, serving over 565,000 clients.

Posted by:trailing wife

#4 Well its good for them

but

the total number of employed is about 28 million in a population of about 98 million

this compares to, for example, the US which has about 60% of the population employed or to, say, Israel which has about 65% of the population employed (despite a bunch of Haredi slackers)

Posted by: lord garth 2019-10-27 12:22

#3 MEGA - Make Egypt Great Again!

Posted by: Mercutio 2019-10-27 12:01

#2 Damn Trump!! He's "ruining" another country too.

Posted by: AlanC 2019-10-27 08:54

#1 Egypt is doing a whole lot better than I would have predicted. They dodged the MusBro bullet when they tossed Morsi out, they have worked to keep the jihadis under control and el Sisi has been reaching out to the Copts which I take to be a hopeful sign. Now it looks like the economy is cruising. I wish them luck.

Posted by: SteveS 2019-10-27 03:57

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