Unemployment Rates Rises Slightly to 6.7% in Q3 2024

Egypt’s unemployment rate increased slightly to 6.7% in the third quarter of 2024, marking a 0.2% rise compared to the previous quarter, according to the latest report from the Central Agency for Public Mobilization and Statistics (CAPMAS). The report showed that the total number of unemployed individuals reached 2.159 million during the July to September period.

The labour force itself grew by 2.5%, with CAPMAS estimating it at 32.218 million people in Q3, up from 31.423 million in Q2. However, despite the increase in the employed population - up 2.4% to 30.059 million - the unemployment rate saw a modest rise. Employment in urban areas stood at 12.752 million, while rural areas accounted for 17.307 million workers.

Women faced significantly higher unemployment, with a rate of 18.2% compared to just 4.2% among men. Youth unemployment was another area of concern, as individuals aged 15 to 29 made up 67.2% of the unemployed population. Educationally, 84.5% of the unemployed held at least a secondary education, with 44.6% of university graduates unable to find work.