The unemployment rate in Egypt decreased to 7.8 percent in the third quarter of 2019 compared to 10 percent in the same period a year earlier and 7.5 percent in the previous quarter. The number of unemployed persons went down by 708 thousand to 2.21 million while employed remained barely unchanged at 26.1 million. The jobless rate declined in urban areas (10.6 percent vs 12.5 percent in Q3 2018) and in rural areas (5.6 percent vs 8.1 percent). Meantime, unemployment among people with average and above average qualifications stood at 43.8 percent, with unemployment among university graduates and people with higher qualifications reaching 44.8 percent. Unemployment Rate in Egypt averaged 10.75 percent from 1993 until 2019, reaching an all time high of 13.40 percent in the third quarter of 2013 and a record low of 7.50 percent in the second quarter of 2019. source: CAPMAS, Egypt
Unemployment Rate in Egypt is expected to be 7.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Egypt to stand at 6.70 in 12 months time. In the long-term, the Egypt Unemployment Rate is projected to trend around 6.80 percent in 2020, according to our econometric models.