{"id":564020,"date":"2021-08-03T13:46:19","date_gmt":"2021-08-03T13:46:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/private-sector-employment-is-up-for-first-time-in-20-months\/"},"modified":"2021-08-03T13:46:19","modified_gmt":"2021-08-03T13:46:19","slug":"private-sector-employment-is-up-for-first-time-in-20-months","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/private-sector-employment-is-up-for-first-time-in-20-months\/","title":{"rendered":"Private sector employment is up for first time in 20 months"},"content":{"rendered":"

<\/a> Employment in Egypt\u2019s non-oil private sector rose for the first time since late <\/strong>2019 in July<\/strong>, as firms looked to capitalize on the pickup in new orders last month<\/a>, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf)<\/a>. Heightened demand meant that the private sector built up a backlog for the first time this year, prompting businesses to expand capacity and fuelling a recruitment drive, the survey suggests.<\/p>\n

But private sector contraction deepened:<\/strong> The headline PMI dropped slightly to 49.1 in July from 49.9 the previous month, as output and new orders gauges fell back into negative territory. The two gauges had risen in June for the first time in seven months; the rate of contraction in July was weather than has been generally seen year to date.<\/p>\n

Demand weakens from June:<\/strong> IHS Markit pointed to weak demand caused by sluggish domestic consumer spending to explain the dip, suggesting that the government will need to do more to support spending in the coming months. \u201cIt is clear that the economic recovery remains fragile and in need of further supportive measures to strengthen demand,\u201d chief economist David Owen said.<\/p>\n

Rising employment signals improved confidence:<\/strong> Despite the drop in the headline index, the positive employment figure signals that business confidence is improving and indicates that the economy has seen the worst of the pandemic, Owen said.<\/p>\n

Overall inflation eased to a four-month low in July<\/strong>, as rises on input costs including employee wages and fuel narrowed, while the surge in raw materials prices also noticeably tailed off. Fewer companies hiked output charges as a result, while some offered discounts as they sought to entice reluctant domestic clients wary of ongoing pandemic measures.<\/p>\n

Many sub-gauges showed good signs going forward despite the headline dip.<\/strong> Along with rising employment and easing inflationary pressures, foreign orders were positively impacted by ongoing recovery in the global economy, while supply chains also saw improvement. And June\u2019s high optimism was carried over into July, with 51% of those surveyed saying they expect activity to increase in the next 12 months, suggesting confidence in the idea of a post-covid-19 recovery.<\/p>\n

ELSEWHERE IN THE REGION-<\/strong> Saudi Arabia\u2019s PMI <\/strong>saw its first drop in four months<\/a><\/strong> to 55.8 in July<\/strong>, down from 56.4 in June. Growth in output, new orders and employment all saw weaker growth compared with last month, but Saudi output expansion in particular remains rapid.<\/p>\n

The UAE\u2019s non-oil private sector registered <\/strong>its strongest growth rates in two years<\/a><\/strong>, <\/strong>with its headline PMI up to 54.0 in July from 52.2 in June, as new business, orders and employment all spiked sharply.<\/p>\n","protected":false},"excerpt":{"rendered":"

Employment in Egypt\u2019s non-oil private sector rose for the first time since late 2019 in July, as firms looked to capitalize on the pickup in new orders last month, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). Heightened demand meant that the private sector built up a backlog for the first time this year, […]<\/p>\n","protected":false},"author":1,"featured_media":564021,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10034],"tags":[107,104,633,182,185],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-economy","tag-covid-19","tag-economy","tag-enterprisepm","tag-inflation","tag-pmi","wpautop","entry"],"acf":{"mongo_id":"ffb6b2f7-0a5e-4036-8db6-772102e0057e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/351.jpg","photo_position":"above","related_issue":[564016],"teaser":"","voice_url":""},"yoast_head":"\nPrivate sector employment is up for first time in 20 months - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/03\/private-sector-employment-is-up-for-first-time-in-20-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector employment is up for first time in 20 months\" \/>\n<meta property=\"og:description\" content=\"Employment in Egypt\u2019s non-oil private sector rose for the first time since late 2019 in July, as firms looked to capitalize on the pickup in new orders last month, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). 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A lot.","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector shrank again in August, but at a slower pace than in July: Business activity in Egypt\u2019s non-oil private sector contracted for the ninth straight month in August \u2014 but a record surge in corporate spending and a pick-up in demand softened the decline, according to IHS\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566216,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/pmi-outlook-brightens-but-remained-in-contraction-territory-last-month\/","url_meta":{"origin":564020,"position":2},"title":"PMI outlook brightens, but remained in contraction territory last month","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector contracted for a sixth consecutive month in May, but at a slower rate as market conditions in major areas of the economy improved compared to the past three months and as optimism reached at a new high, according to IHS Markit\u2019s purchasing managers\u2019 index\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/418.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559805,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/private-sector-sentiment-still-in-contraction-territory\/","url_meta":{"origin":564020,"position":3},"title":"Private sector sentiment still in \u201ccontraction\u201d territory","author":"enterpriseam admin","date":"4 February 2021","format":false,"excerpt":"Non-oil private sector activity in Egypt continued to contract in January, albeit at a slower pace as falls in output and orders tempered, according to IHS Markit purchasing managers\u2019 index (PMI) figures (pdf). The PMI gauge edged up a little from 48.2 in December to 48.7 in January, below the\u2026","rel":"","context":"In "SENTIMENT"","block_context":{"text":"SENTIMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/sentiment\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/85.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549909,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/","url_meta":{"origin":564020,"position":4},"title":"PMI is flat month on month, with private sector still in contraction territory","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector contracted at the same pace in September as it did in August, according to S&P Global\u2019s latest purchasing managers\u2019 index (pdf). The PMI index was flat month-on-month at 47.6, remaining below the 50.0 threshold that separates growth from contraction for the twenty-second consecutive month.\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/136.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588081,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/06\/egypts-non-oil-private-sector-contracts-at-softest-pace-in-15-months-in-may\/","url_meta":{"origin":564020,"position":5},"title":"Egypt\u2019s non-oil private sector contracts at softest pace in 15 months in May","author":"enterpriseam admin","date":"6 June 2023","format":false,"excerpt":"Business activity declined for 30th consecutive month in May","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/248.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564020"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564020\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564021"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564020"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564020"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}