In its statement on unemployment rates in Egypt, the International Monetary Fund (IMF) confirmed that the unemployment rate will drop to 8.3% in the coming fiscal year. The IMF revised its forecast for the average unemployment rate in Egypt during the current fiscal year to 9.6% of the total population, instead of 9.7%, which was expected during the third review report of the Egyptian program for economic reform in last July.
By the end of the second quarter of 2018, male unemployment amounted to 6.7 percent of the total male labour force and 21.2 percent of the total female labour force.
The unemployment rate among young people (15-29) reached 77.9% of the total unemployed.
The statements come amid skepticism about their credibility, where observers said that the Egyptian economics’ followers find that the economic data issued by the government institutions are illogical, including the production rate and its value, and the fake rates attributed to it. In fact, according to the Labour Force Bulletin of 2017, published in May 2018, page 13, the labour force amounted to 28.4, 28.9, 29.5 million workers in 2015, 2016 and 2017, respectively, that is, the number of the new comers for the labour market in 2016 and 2017, was about 500 thousand and 600 thousand people, respectively.
These figures are in complete contrast to what is mentioned in the Statistical Yearbook of 2018, published in the Institute of Statistics website, which shows that the university graduates and technical education reached 922 000 and 978 000 people, respectively in 2016 and 2017. If the new comers in the labour market are uneducated, the figures will exceed at least one million.
Based on this result, the labour force in 2017, for example, will be 30 million, not 29.5 million, as announced by the Statistics Authority. Thus, the unemployment rate is 13.3% and not 11.8%.
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