Egypt says unemployment falls to 10.6%

2018-05-15 21:04
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Egypt's statistics agency says unemployment has fallen in the first quarter of 2018 to 10.6% compared to 11.3% in the three months prior.

CAPMAS says in a Tuesday statement that the decrease amounted to a 1.4% drop compared to the same quarter a year earlier.

It estimates Egypt's labour force at 29.2 million people - down 86 000 from the previous quarter due to seasonal work - with the number of unemployed at 3.1 million people.

Egypt's economy is still recovering from a costly 2011 popular uprising and years of political instability. The government secured a $12bn loan from the IMF in 2016 and launched an austerity program that has included subsidy cuts.

The country has a large informal labour sector not reflected in unemployment statistics.

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