Unemployment rate declines 0.2% in 2014: CAPMAS
Building of Central Agency for Public Mobilization and Statistics (CAPMAS) - YOUM7 (Archive)

CAIRO:  The unemployment rate in 2014 slipped .2 percent compared to 2013, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced Thursday; the rate in 2014 was 13 percent, compared to 2013’s 13.2 percent.

The organization reported that the governorate of Port Said had the worst rate of unemployment among Egypt’s governorates, with a rate of 25.9 percent, followed by Alexandria with a rate of 18.4 percent. South Sinai governorate registered the least amount of unemployment, with a rate of 3.1 percent.

The organization also announced an increase in manpower in 2014 (27.9 million) compared to 2013 (27.6 million.)

The figures also revealed that the weekly averaged working hours are 47.2 hours per week; those in the investment sector averaged 49.1 hours per week while the private sector scored a rate of 48.8 percent and the public sector average was 47.9 hours per week.

CAPMAS reported last year that in the fourth quarter of 2014 Egypt witnessed a slip for the first time in three years to 12.9 percent, compared to 13.3 percent in the previous quarter.

The International Monetary Fund (IMF) predicted in October that Egypt’s unemployment rate would surge to 13.9 percent in 2015. The Egyptian economy has been in decline since the January 25th Revolution due to a deteriorating security situation and ailing tourism sector.

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