Page 16 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 14
Unemployment Rate in Egypt (Q2 2016 - Q2 2023) (%)
Unemployment Rate:

Q2, 2017 Q2, 2019 Q2, 2021 Q2, 2023
• A prominent result of the first phase of the Economic Reform Program
was the success in significantly reducing unemployment rates down to 12.5 9.9 9.6 7.2
about 7.3% in 2022 compared to about 12.6% in 2016 as a result to the 12.0 7.5 7.3 7.0
steady growth of the Egyptian economy and the surge in investments.
Q2, 2016 Q2, 2018 Q2, 2020 Q2, 2022
• The unemployment rate dropped to about 7% in the second quarter of
2023, compared to about 12.5% in the same quarter of 2016.
Source: Central Agency for Public mobilization and statistics (CAPMAS)
• Comparing the unemployment rate in Egypt to some of regional and
emerging countries in 2022, we find that Egypt has achieved a lower Comparison of the Unemployment Rate in Egypt vs. Regional
unemployment rate compared to those of other countries like Jordan, and Emerging Countries in 2022
Tunisia, Morocco, Algeria, Turkey, South Africa, and Nigeria according to
29.8%
indicators issued by the International Labor Organization.

"The 2030 Sustainable "The major national projects 17.9%
Development Strategy (SDS) implemented by the State 16.1%
has set a goal to annually across various economic sectors 10.5% 11.6% 7.0% 10.0%
reduce unemployment have played part in decreasing 6.5%
rates in Egypt by no less unemployment rates in Egypt 2.8%
than 1% or 1.5%, a goal the during the past few years by
state already successfully providing direct and indirect job
accomplished". opportunities".

Morocco Algeria Tunisia South Egypt Jordan Turkey Argentina UAE
Africa
Source: Konema