Egypt’s unemployment rate rises marginally in 4Q2019 to 8%, q-o-q

Unemployment in Egypt fell to 8% in 4Q2019, down 0.9% y-o-y from 4Q2018, according toCapmas figures. Unemployment increased marginally on a quarterly basis from 7.8% in 3Q2019 and 7.5% in 2Q2019, which was the lowest figure recorded in a decade. This comes as non-oil business activity hit three-year lows and employment rates dropped for the third consecutive month in January, according to the latest purchasing managers’ index (PMI).