9% Unemployed in Egypt Including 90% Degree-Holders
|Wednesday, May 6,2009 07:42|
The Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in the unemployment rate in Egypt during the first quarter of the year 2009 adding up to 9.4% in comparison to the 8.8% during the final quarter of the year 2008 which increased, during the same period, to 9% after the global financial crisis.
The research conducted by CAPMAS explained that the number of unemployed people searching for a job, but have not yet landed one, had reached 2,346,000 during the first quarter of the year 2009 making the number of employed people 22,685,000 out of a total labor force of 25,031,000.
The report further indicated a retreat in the male labor force from 19,296,000 in the final quarter of 2008 to 19,123,000 during the first quarter of 2009. The female labor force, on the other hand, increased from 5,699,000 to 5,908,000 during the same periods respectively.
While the number of unemployed males reached 993,000, the number of unemployed females reached 1,352,000 making male unemployment 5.19%, and female unemployment 23.9% of the total labor force of each.
In terms of educational status, those holding school, college, and higher degrees comprised around 90.5% of the total unemployment rate including 47.3%, or 1,109,000, school degree holders (41.6% males and 58.4% females). Unemployed school degree holders in rural areas comprised 51.7% of the total unemployment rate compared with 48.3% of those living in urban cities.
On the other hand, unemployed college and higher degree holders reached 851,000 comprising 36.3% (44.38% males, 55.2% females) of the total unemployment rate. Those of them in rural areas comprised 29.5% of the total unemployment rate compared with 70.5% in the urban cities.
The Egyptian economy has been suffering deceleration by 4% in the 2008-09 fiscal year compared with 7% the previous year with a retreat in returns, due to the global financial crisis, especially on tourism, the Suez Canal, and transferring workers abroad.