Egypt’s unemployment rate declined to 6.4 percent in the fourth quarter (Q4) of 2024, down from 6.7 percent in the previous quarter, according to a report by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Saturday, 17 February.
The report indicated that the country’s labour force grew by 2.8 percent, reaching 33.1 million individuals in Q4, compared to 32.2 million in Q3.
Unemployment among men dropped to 3.9 percent, down from 4.2 percent, while women’s unemployment rate decreased from 18.2 percent in Q3 to 16.6 percent in Q4.
Youth unemployment (ages 15-29) remained a concern, making up 64.6 percent of the unemployed population, down from 65.7 percent in Q3 2024.
Meanwhile, unemployment among individuals with higher education qualifications saw a slight decline, with 44.6 percent of unemployed individuals holding a university degree, compared to 44.9 percent in Q3.
The agriculture and fishing sector remained the largest employer, accounting for 18.5 percent of the workforce, followed by the wholesale and retail sector at 16 percent. Manufacturing employed 13.3 percent, while the construction sector accounted for 12.9 percent.
CAPMAS’ latest figures reflect ongoing changes in Egypt’s labour market as the country navigates economic shifts and implements policies aimed at job creation.
As of December 2024, Egypt’s unemployment rate has decreased to 5.6 percent, a significant improvement from 13 percent a decade ago in 2014.
This decline follows a series of reforms initiated since 2014, aimed at strengthening the private sector, revising laws to attract investment, and enhancing the overall investment climate.
