A report issued by the Central Agency for Public Mobilization and Statistics in Egypt showed that the unemployment rate decreased to 7.3 percent in the second quarter of this year, which means a decrease of 2.3 percent compared to the same period in 2020. While the unemployment rate was 7.4 percent in the first quarter of this year. The size of the labor force amounted to 29.115 million individuals during the period between the months of April and June last year, compared to 29.284 million individuals during the previous quarter, representing a decrease of 0.6 percent.
The decline in unemployment figures comes despite the decline in the non-oil sector's conditions during last July, as a result of the decline in the indicators of production and new orders.
Cairo is seeking to reduce the unemployment rate, regardless of the costs, by launching several national projects, which are supervised by local companies, especially army companies. The Corona crisis revealed the difficulty of exiting many categories from the labor market, especially those with accumulated experience over the years at work, and therefore it is difficult to dispense with them or replace their skills, even though this is related to the duration of the closure.
It is worth noting that the government launched the "National Structural Reform Program" last May, which is the second phase of the economic reform program, which was launched in 2016.
Source (London-based Al-Arab Newspaper, Edited)
