Egypt's Unemployment Rate Drops to 6.4% in Q4

Taarek Refaat

Egypt's unemployment rate fell to 6.4% in the fourth quarter of 2024, compared to 6.7% in the previous three-month period. This was the lowest rate on record, with the number of unemployed individuals falling by 29,000 (-1.3%) to 2.13 million, while employment opportunities rose by 935,000 (+3.1%) to a new record high of 30.99 million.

Unemployment among men fell to 3.9% in the fourth quarter, compared to 4.2% in the third quarter, while the rate among women fell to 16.6% from 18.2%.

Finally, youth unemployment (ages 15-29) reached 64.6% of the total unemployed population, slightly lower than the 65.7% rate in the third quarter of 2024.

Most of Egypt's public and private sector workforce holds a bachelor's degree, which, if completed in four years, graduates at age 21. After that, most men apply to join the military, a requirement that takes approximately eleven months, meaning that young men aged 22-23 cannot join the workforce until after this. Others who fail to graduate are required to complete three years of duty.

In Egypt, the unemployment rate measures the number of people actively seeking work as a percentage of the labor force. Egypt's unemployment rate fell to 6.40% in the fourth quarter of 2024 from 6.70% in the third quarter of 2024.

US President Donald Trump's Middle East envoy, Steve Witkoff, has raised eyebrows in Cairo. While some viewed it as a "threat and veiled warning" to the country, others saw it as containing "harsh language" in an attempt to signal that "Egypt cannot be allowed to lose."

Witkoff's remarks about Egypt came in response to a question about the impact of the situation in the Gaza Strip on neighboring countries and whether this was a cause for concern. In an interview with Tucker Carlson, posted on YouTube, Witkoff said, "Egypt is at the forefront... and I think all the good things that happened after the elections because of the elimination of Nasrallah and Sinwar could be reversed if we lose Egypt."

He explained, "The data in Egypt indicates a huge unemployment rate, around 45%. A country like this cannot continue. They (the Egyptians) are very broke and need a lot of help." He added, "If something bad happens in Egypt, it could push us backward... and that's why we have to solve the Gaza issue."

Media professionals and activists on social media circulated Witkov's statements, criticizing his comments about Egypt and demanding an official response to the "misleading" information and "veiled threats and warnings" he contained.

المطور العقاري ويتكوف لم يقرأ التاريخ ولم يعرف خطوط الجغرافيا

ولا يفهم طبيعة وتعقيدات المنطقة ولم يعرف الدور المصري في الإقليم

واقول له :

- مصر ليست دولة مفلسة ولتذهب معونتكم إلى الجحيم

- مصر لا تعاني من نسبة بطالة ٤٥٪ كما قلت كذبا او جهلا وعليك بالاتصال بصندوق النقد والبنك… pic.twitter.com/WSnRayr1zj