Browsing: unemployment

Egypt’s unemployment up to 9.6% in 2020: CAPMAS

Egypt’s unemployment rate rose slightly to 9.6 per cent during the second quarter (Q2) of 2020 according to the Central Agency for Public Mobilization and Statistics (CAPMAS) report.

The latest figures from the report show a  slight increase of 1.9 per cent compared to the 7.7 per cent reported in Q1 of 2020 and an increase of 2.1 per cent from Q2 of 2019.

According to CAPMAS, the number of unemployed reached 2,574 million, which is 9.6 per cent of the total workforce, of which 1,934 million were male and 640,000 were female. his compared to the 2,236 million unemployed in Q1 of 2020, reflecting a 15.1 per cent increase to 338,000.

According to CAPMAS, the rise in Egypt’s unemployment rate is due to the repercussions of COVID-19 pandemic.

As a precautionary measure, the government of Egypt put in measures that saw the international air traffic suspended, closure of schools, …

The Moroccan planning agency revealed on Wednesday that, the country’s unemployment rate slipped to 9.2 per cent in 2019 from 9.5 per cent in 2018. This was attributed by the offset labor gains in town and cities, after heavy job losses within the rural areas, Reuters revealed.

Morocco which is now run under a new coalition-government, its economy was spotted by World Bank (in October 2019) to be slowing down below its potential constrained by a volatile, rain-fed, agricultural sector and slow growth in the tertiary sector.

According to World Bank, real GDP slowed to 2.7 per cent in 2019, while non-agricultural growth improved by 3.4 per cent (compared to 3 per cent in 2018), driven by the better performance of phosphates, chemicals, and textiles.

READ U.S.-Africa Business Summit 2020 to be hosted in Morocco

In addition, the government is currently working to develop a new model of economic development …

The fourteenth edition of the 2019 African Economic Conference (AEC) has commenced in Sharm El Sheikh—Egypt, raising serious ideas towards sending a crucial call to African policymakers to gain a rather strong hold in addressing unemployment among youth in Africa.

According to a statement from African Development Bank (AfDB), African governments are expected to eradicate setbacks and high startup costs that African youth face, in order to create decent well-paying jobs.

The AEC is jointly organized every year by the African Development Bank, the Economic Commission for Africa and the United Nations Development Programme (UNDP) to discuss pertinent issues affecting the continent.

This year’s event is running on the theme: “Jobs, entrepreneurship, and capacity development for African youth”.

Egypt’s Minister of Investment and International Cooperation, Sahar Nasr, gave out a rather vital aspect on the matter during his opening plenary, highlighting that, the conference provided a critical platform to …