{"id":620148,"date":"2024-05-16T00:00:00","date_gmt":"2024-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/16\/unemployment-rate-falls-to-6-7-in-1q-2024\/"},"modified":"2024-05-16T00:00:00","modified_gmt":"2024-05-16T00:00:00","slug":"unemployment-rate-falls-to-6-7-in-1q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/16\/unemployment-rate-falls-to-6-7-in-1q-2024\/","title":{"rendered":"Unemployment rate falls to 6.7% in 1Q 2024"},"content":{"rendered":"

Unemploym<\/strong>ent inches down for the second quarter in a row:<\/strong> Egypt\u2019s unemployment rate fell to 6.7% of the total workforce in the first quarter of this year, inching down 0.2 percentage points from the previous quarter<\/a>, according to data released yesterday by state statistics agency Capmas. Unemployment was down 0.4 percentage points compared to the same period last year<\/a>. <\/p>\n

A gender breakdown: <\/strong>Unemployment among men decreased to 4.4% in 1Q 2024, marking a 0.2 percentage point decline from the previous quarter and 0.1 percentage point drop y-o-y. For women, unemployment fell to 16.5% in the quarter, down from 17.7% in the previous quarter and down 2.7 percentage points from the same period last year. <\/p>\n

Youth unemployment crept up slightly: <\/strong>Folks aged 15-29 accounted for 64.5% of all jobless people in 1Q 2024, marginally up from 62.4% in the previous quarter. Capmas doesn\u2019t provide an official rate of youth unemployment.<\/p>\n

REMEMBER- By definition, the official unemployment rate only includes people who are <\/strong>looking for work. <\/strong>The labor force participation rate \u2014 which counts everyone aged 15-64 either in work or actively looking for work \u2014 came in at 43.5%, up from 43.1% in the previous quarter and 43.0% in 1Q 2023. <\/p>\n

DATA POINT:<\/strong> Egypt\u2019s labor force now stands at 31.4 mn, up 1.0% on the previous quarter. Men make up 81% of the workforce and women make up 19%. <\/p>\n","protected":false},"excerpt":{"rendered":"

Folks aged 15-29 accounted for 64.5% of all jobless people in 1Q 2024<\/p>\n","protected":false},"author":1,"featured_media":620149,"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":[7206],"tags":[330,104,928,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-capmas","tag-economy","tag-employment","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"141f92ba-500b-4f87-8240-d6720cc5c2db","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1229.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s unemployment rate falls to 6.7% in the first quarter of the year","related_issue":[620136],"teaser":"Folks aged 15-29 accounted for 64.5% of all jobless people in 1Q 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.7597315e-98bb-47f1-bc54-2bbf33dc4119.mp3"},"yoast_head":"\nUnemployment rate falls to 6.7% in 1Q 2024 - 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The jobless rate is down 0.1 percentage points in comparison with the same quarter last year.REMEMBER- The official unemployment rate only includes people\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\/11\/257.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\/620148","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=620148"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620148\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/620136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/620149"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=620148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=620148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=620148"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=620148"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=620148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}