Egypt Daily News – Unemployment is down and based on the data provided from CAMPAS regarding the unemployment in Egypt during the second quarter (April – June) of 2024, here are the key points and insights:
Contents
Unemployment Rate
- The unemployment rate decreased to 6.5% in Q2 2024, down from 6.7% (a decrease of 0.2%).
- The total number of unemployed individuals in Q2 2024 is 2.058 million, a decline of 46,000 from 2.104 million in Q1 2024 and a decrease of 111,000 compared to Q2 2023.
Labor Force Size
- The total labor force grew to 31.423 million in Q2 2024, an increase of 0.1% from the previous quarter (31.397 million).
- The labor force is split between urban areas (13.862 million) and rural areas (17.561 million).
- The male labor force stands at 25.796 million, while the female labor force is 5.627 million.
- The increase in employed workers (up by 72,000) coupled with a decrease in unemployment (down by 46,000) resulted in an overall rise in the labor force by 26,000 individuals.
Gender-Based Unemployment
- Male unemployment rate: 4.2% (down from 4.4% last quarter, down from 4.8% last year).
- Female unemployment rate: 17.3% (up from 16.5% last quarter but stable compared to 17.3% last year).
Age Group Analysis
- 15-19 years: Unemployment rate stays at 7.4% (compared to 7.3% last quarter).
- 20-24 years: Unemployment rate decreased to 30.5% from 33.0%.
- 25-29 years: Increased to 26.3% from 24.2%.
- 30-64 years: Slight increase to 35.8% from 35.5%.
Residential Impact on Unemployment
- Urban unemployment rate: 10.0% (up from 9.4% last quarter but down from 10.1% the previous year).
- Rural unemployment rate: 3.8% (down from 4.6% both from last quarter and the previous year).
Educational Status of Unemployed
- 84.1% of the unemployed hold intermediate, above-intermediate, university, or higher qualifications (up from 82.4% last quarter).
- 15.9% have education below the average (down from 17.6% last quarter).
- 39.3% have intermediate and above-intermediate qualifications (up from 37.8%).
- 44.8% possess university qualifications or above (slightly increased from 44.7%).
Observations
- The overall decline in both the unemployment rate and the number of unemployed can hint at a gradual improvement in the job market.
- Despite improvements, the female unemployment rate is notably higher than that of males, indicating ongoing challenges in achieving gender parity in employment.
- Urban areas are experiencing higher unemployment rates compared to rural areas, suggesting differing dynamics in job availability and socioeconomic conditions.
- Higher levels of education are still correlating with unemployment, reflecting potential mismatches between qualifications and available job opportunities.
These statistics highlight the ongoing changes and trends within the labor market, and while improvements are present, various nuances indicate areas that require continued attention and policy focus.
