Cairo – Mubasher: Egypt’s unemployment rate dropped to 11.8% in 2017, down from 12.5% a year earlier.
Jobless rate among youth aged between 15 and 29 years old recorded 24.8% of total workforce in 2017, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a statement on Monday.
Unemployed males and females accounted for 20% and 36.5% of total workforce in Egypt last year, the statement highlighted.
Unemployment rate among educated youth aged between 15 and 29 years old stood at around 31.8% in 2017, according to the state-run agency's data.
The finance ministry aims to cut unemployment and inflation rates to 10% in fiscal year 2018/2019.
Egypt also seeks to provide around 750,000 jobs through its new development scheme, which will push unemployment rates below 11%.
