Unemployment dips in 4Q 2024: Egypt’s unemployment rate fell to 6.4% in 4Q 2024, down 0.3 percentage points from the previous quarter, according to data from state statistics agency Capmas. Unemployment was down 0.5 percentage points from the same period in 2023.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Labor force growth fueled the decline: The labor force expanded to 33.1 mn in 4Q 2024, marking a 2.8% increase from the previous quarter — an additional 935k individuals secured jobs while the number of those unemployed decreased by 29k.

Unemployment among women sees a drop: The jobless rate for women fell 1.6 percentage points from the previous quarter to 16.6% in 4Q 2024. Male unemployment also saw a slight decrease, dropping to 3.9% from 4.2% in the previous quarter.

Unemployment among young people fell: Those aged 15-29 accounted for 64.6% of total unemployed individuals, down from 65.7% in 3Q 2024. Capmas doesn’t provide an official rate of youth unemployment.

Wage employment dominates the job market: Salaried workers made up 71% of the total amount of those employed, 20.6% are self-employed, 4.1% are business owners, and some 4.3% worked in family businesses without pay.

Agriculture prevailed as the top employer: The agriculture and fishing sector employed 18.5% of those employed, the wholesale and retail sector came in second (16%), manufacturing followed with 13.3%, and construction with 12.9%.

REMEMBER- The unemployment rate excludes working-age individuals who are not actively seeking jobs or unable to work. The labor force participation rate — which counts everyone aged 15-64 either in work or actively looking for work — came in at 45.5% in 4Q 2024 compared to 44.4% in the previous quarter and 43.1% in 4Q 2023.

Tags: