Unemployment Hits 11.9% in Egypt 

(MENAFN - Qatar News Agency) Egypt's unemployment rate has risen to 11.9% in the third quarter of this year, 2011, the highest rate in 10 years compared with 8.9% in the last quarter of 2010, the head of the Central Agency for Public Mobilization And Statistics (CAPMAS) said.

Addressing a press conference here Thursday, the (CAPMAS) chief Abu Bakr el-Gindi pointed out that rate was due to the impact of the political unrest and the shaking economic condition in the country.

The number of unemployed reached 163.3 million unemployed, an increase of 55,000 unemployed increased by 1.8% from the previous quarter and an increase of 825,000 unemployed by 3.35% during the same quarter of previous year.

In the first quarter of 2011, unemployment numbers grew by nearly 800,000 to reach a total of 3.1 million, the head of the CAPMAS announced.

The jobless rate in urban areas had recorded 16.1% compared to 16% in the previous quarter, while it was 12.3% during the same quarter of last year, while it was 8.6 % in the rural areas in both quarters, the current and the former ones, and 6.4 % during the same quarter of 2010

Out of the total workforce that exceeds 26,664 million people in the period from July to Sept.201, an increase of 322,000 people about 1.2 % compared with the previous quarter and an increase of 511,000, a percentage of 2% of the same quarter of 2010.

El-Gindi blamed the rise on the negative consequences that followed the protests and led to slowdown in economic activities.