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Egypt's Unemployment Remains High in Q4 2013  Join our daily free Newsletter

MENAFN - Qatar News Agency - 18/02/2014

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(MENAFN - Qatar News Agency) Egypt's unemployment rate remained unchanged in the fourth quarter of 2013 at 13.4 percent of a labour force of 27.3 million people, according to a state-run statistics body.

Unemployment among young people aged 15-29 hit 69 percent of the labour force in the last quarter of 2013

More than 82 percent of them hold diplomas and university degrees

The quarterly report released on Monday said that the persistence of the high unemployment rate reflects an ongoing slowdown in economic activities, reported Ahramonline

The growth rate of the Gross Domestic Product (GDP) during the period of July-September 2013 fell to 1.6 percent compared to the same period the previous year, when the growth rate stood at 2.6 percent

Minister of Investment Osama Saleh said in September that the high unemployment was due the political turmoil and economic shocks egypt has been experiencing since the January 2011 uprising, which ended the 30-year-rule of autocratic president Hosni Mubarak

 






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