CAIRO: The youth unemployment rate in Egypt is almost 29 percent for those between the ages of 18 and 29 in comparison with 23.7 percent in 2013, according to Central Agency for Public Mobilization and Statistics’s (CAPMAS) Tuesday report in occasion of International Youth Day on Aug. 12.
The report said youths between the ages 18 to 29 represent 23.7 percent of Egypt’s population, 51.1 percent of them male and 48.9 percent female.
The CAPMAS report said the unemployment rate among males who graduated from universities and post-graduates is about 36.4 percent, and 14.7 percent for the illiterate and intermediate graduates. Similarly, the unemployment rate is higher among female graduate youths at 57.2 percent compared to 13.7 percent for illiterate females.
An estimated 27.8 percent of Egypt’s youth are suffering from poverty, while 24.1 are near the poverty line, according to the report. In 2013, CAPMAS announced that 27 percent of Egypt’s youth were poor and 24.3 were near the poverty line.
CAPMAS also announced earlier this month that the monthly inflation rate rose by 3.3 percent in July 2014 and the annual inflation rate rose by 10.7 percent in July 2014.
The poverty rate in Egypt rose to 26.3 percent during the fiscal year of 2012/2013 from 25.2 percent in 2010/2011, with the highest rates of poverty being concentrated in a number of Upper Egypt governorates, CAPMAS announced in a report issued Nov. 2013.
In a new step to achieve social justice between all Egyptian citizens, Egypt’s Cabinet agreed on President Abdel Fatah al-Sisi’s decree in June to apply maximum wage in all state entities.
The Cabinet that followed the January 25 Revolution in 2011, headed by Essam Sharaf, had approved a draft law for maximum wage to be 35 times the minimum wage. Another resigned Cabinet, headed by Hazem al-Beblawy, also approved a draft law stipulating that maximum wage should not exceed 42,000 EGP but the two draft laws have not been applied since.