{"id":564611,"date":"2021-02-16T13:21:06","date_gmt":"2021-02-16T13:21:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/drop-in-unemployment-driven-by-job-creation-not-reduced-labor-force-efg-hermes\/"},"modified":"2021-02-16T13:21:06","modified_gmt":"2021-02-16T13:21:06","slug":"drop-in-unemployment-driven-by-job-creation-not-reduced-labor-force-efg-hermes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/drop-in-unemployment-driven-by-job-creation-not-reduced-labor-force-efg-hermes\/","title":{"rendered":"Drop in unemployment driven by job creation, not reduced labor force \u2013EFG Hermes"},"content":{"rendered":"

<\/a> MORE CONTEXT on this morning\u2019s unemployment figures: <\/strong>EFG Hermes\u2019 Mohamed Abu Basha took a deeper dive in a client note today, writing that \u201cwhile the headline number is somewhat underwhelming, it carried an important development: the number of employed people has risen to exceed pre-COVID-19 levels<\/strong>. \u2026 The number of employed jumped by a sharp 1.7 mn people, taking the overall number of employed people to 27.8mn. In the previous quarters, the drop in employment was driven by a reduced labour force.\u201d Abu Basha thinks it is still a bit surprising that \u201cemployment recovered that strongly while the important tourism sector continues to suffer from depressed activity as a result of the pandemic.\u201d<\/p>\n

What\u2019s driving job creation? <\/strong>Trade and agriculture, which together created more than 1 mn jobs, he says, followed by construction (317k jobs) and healthcare (124k).<\/p>\n","protected":false},"excerpt":{"rendered":"

MORE CONTEXT on this morning\u2019s unemployment figures: EFG Hermes\u2019 Mohamed Abu Basha took a deeper dive in a client note today, writing that \u201cwhile the headline number is somewhat underwhelming, it carried an important development: the number of employed people has risen to exceed pre-COVID-19 levels. \u2026 The number of employed jumped by a sharp […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[10084],"tags":[84,928,633,4176],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564611","post","type-post","status-publish","format-standard","hentry","category-speed-round-macro-watch","tag-efg-hermes","tag-employment","tag-enterprisepm","tag-speed-round-macro-watch","wpautop","entry"],"acf":{"mongo_id":"0e7d5ad0-eccb-4456-bca4-adaae1b1bfcf","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[564605],"teaser":"","voice_url":""},"yoast_head":"\nDrop in unemployment driven by job creation, not reduced labor force \u2013EFG Hermes - 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