{"id":573790,"date":"2020-08-18T04:14:24","date_gmt":"2020-08-18T04:14:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/"},"modified":"2020-08-18T04:14:24","modified_gmt":"2020-08-18T04:14:24","slug":"egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/","title":{"rendered":"Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt\u2019s unemployment rate rose to a <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/18\/egypt-unemployment-ticks-up-to-10-in-3q2018\/\">near two-year high<\/a><\/strong><strong> in 2Q2020, hitting 9.6%<\/strong> as the covid-19 pandemic forced businesses to shutter and put a damper on economic activity, according to <a href=\"https:\/\/ent.news\/2020\/8\/202081710522_labour-force.pdf\">official figures (pdf)<\/a> released by Capmas yesterday. The jobless count stood at 7.5% in the same quarter of last year and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c692f8a5-50b3-4358-801e-0672222d3d16\">was at 7.7% in the first quarter<\/a> of 2020 before rising to 9.2% in April as the government\u2019s precautionary measures to counter the spread of the virus came into effect.<\/p>\n<p><strong>September\u2019s PMI and jobless figures will be the next significant indicator in whether <\/strong><strong>there\u2019s a pickup in employment<\/strong> now we\u2019ve exited lockdown restrictions. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaa2b485-2ac7-44a7-a97c-5b3247eafeb0\">July\u2019s purchasing managers\u2019 index<\/a> showed that the labor market was still feeling the effects of the three-month lockdown, with employment continuing to decline during the month. Respondents to the poll said this was mainly due to companies not replacing ex-employees who had left voluntarily. The pace of hiring typically slows in August and resumes in September and October \u2014 fueled by hiring managers and jobseekers returning from summer vacation, by \u201cuse or it or lose it\u201d budgeting at companies, and by the annual fall budget process.<\/p>\n<p><strong>Putting our Fake Economist\u2122 hat on for a moment: <\/strong>Capmas shows the labor force contracting from 28.1 mn participants in 2Q2019 (covering both employed and unemployed people) to 26.7 mn in the quarter just ended. Capmas chalks it up to the pandemic, saying that people were either (a) reluctant to work and so dropped out of the workforce or (b) were unable to look for a job because of the pandemic.<\/p>\n<p><strong>Women and youth seem to have been particularly hard hit: <\/strong>Women\u2019s unemployment fell nearly 6 percentage points to 16.2% (suggesting to us that a large number of working moms left the workforce to stay home and look after kids), while youth unemployment was at 60% in the second quarter compared to nearly 85% a year ago. <strong>Men seem to have higher expectations that they\u2019ll return to wor<\/strong><strong>k:<\/strong> Unemployment among men rose to 8.5% in 2Q2020 compared to 4.5% in the first quarter of this year and to 4.2% in the same quarter last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020, hitting 9.6% as the covid-19 pandemic forced businesses to shutter and put a damper on economic activity, according to official figures (pdf) released by Capmas yesterday. The jobless count stood at 7.5% in the same quarter of last year and was at 7.7% in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":573791,"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":[8572],"tags":[330,5719,107,928,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-capmas","tag-central-agency-for-public-mobilization-and-statistics","tag-covid-19","tag-employment","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"80fdf495-1342-4345-a5bd-6387379141bd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/8\/141.jpg","photo_position":"above","related_issue":[573785],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020 - 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\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020, hitting 9.6% as the covid-19 pandemic forced businesses to shutter and put a damper on economic activity, according to official figures (pdf) released by Capmas yesterday. The jobless count stood at 7.5% in the same quarter of last year and was at 7.7% in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-18T04:14:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/141.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020\",\"datePublished\":\"2020-08-18T04:14:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\"},\"wordCount\":361,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/141.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CAPMAS\",\"Central Agency for Public Mobilization and Statistics\",\"covid-19\",\"employment\",\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-unemployment-rate-rose-to-a-near-two-year-high-in-2q2020\/\",\"name\":\"Egypt\u2019s unemployment rate rose to a near two-year high in 2Q2020 - 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The job market doesn\u2019t seem to be absorbing fresh grads: The state statistics bureau chalked up the increase to the entry of fresh graduates\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/489.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560113,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/unemployment-rate-holding-just-about-steady\/","url_meta":{"origin":573790,"position":2},"title":"Unemployment rate holding (just about) steady","author":"enterpriseam admin","date":"16 February 2021","format":false,"excerpt":"Unemployment in Egypt was virtually unchanged in 4Q2020, dipping only marginally to 7.2% from 7.3% in 3Q2020 and 8% in 4Q2019, according to figures released yesterday by state statistics agency Capmas. Although the drop was small, this is the second consecutive quarter during which the official unemployment rate eased after\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571556,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/unemployment-rises-to-9-2-in-april-as-coronavirus-lockdown-bites\/","url_meta":{"origin":573790,"position":3},"title":"Unemployment rises to 9.2% in April as coronavirus lockdown bites","author":"enterpriseam admin","date":"17 May 2020","format":false,"excerpt":"Unemployment rises to 9.2% in April as coronavirus lockdown bites: Egypt\u2019s unemployment rate rose to 9.2% in April from 7.5% in the second quarter of 2019 as the government\u2019s precautionary measures to limit the spread of the novel coronavirus hit the economy, Reuters reports, citing Capmas figures. Data released by\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576210,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/unemployment-rate-falls-back-to-pre-pandemic-levels-in-3q2020\/","url_meta":{"origin":573790,"position":4},"title":"Unemployment rate falls back to pre-pandemic levels in 3Q2020","author":"enterpriseam admin","date":"16 November 2020","format":false,"excerpt":"Egypt\u2019s unemployment rate returned to pre-pandemic levels in 3Q2020, falling to 7.3% after the government eased lockdown restrictions in late June, according to figures from the state statistics agency Capmas. Unemployment stood at 7.8% in the same quarter of last year and hit a near two-year high of 9.6% in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/161.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548633,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/unemployment-rates-holds-steady-in-2q-2022\/","url_meta":{"origin":573790,"position":5},"title":"Unemployment rates holds steady in 2Q 2022","author":"enterpriseam admin","date":"16 August 2022","format":false,"excerpt":"Egypt\u2019s unemployment rate remained flat at 7.2% in 2Q 2022 from last quarter, according to data (pdf) from statistics agency Capmas out yesterday. The jobless rate is down by 0.1 percentage point in comparison with the corresponding quarter last year.The jobless rate has been more or less steady since the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/266.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\/573790","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=573790"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573790\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/573785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/573791"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=573790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=573790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=573790"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=573790"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=573790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}