The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed decline in Egypt's unemployment rate during the fourth quarter of 2016, dropping to 12.4 percent out of the total workforce, compared to 12.6 percent during the third quarter.
In a statement on Wednesday, CAPMAS said the third and fourth quarters are usually characterized by a flow of new graduates who join the job market, some of them join the market, while others serve in the military, do postgraduate studies or get married.
The workforce increased to 29.070 million people, marking an increase of 250,000 people (0.9 percent) from the previous quarter. The figure also marks an increase of 2.6 percent (730,000 people) from the same quarter in 2015.
The number of unemployed citizens registered 3.591 million, which is 12.4 percent of the total workforce, marking a decline of 49,000 people from the previous quarter.
Edited translation from Al-Masry Al-Youm
