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Economy

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Joblessness in Egypt grows 7.5% to 2.2m in 3Q

Workers at a construction site in Egypt.
By TRENDS Desk
November 18, 2021 8:43 pm
  • According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals
  • The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market

The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of 2021, compared to 2.1 million in the second quarter of 2021.

According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals during the previous quarter.

The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market.

Agriculture and fishing were the top sectors in terms of employment followed by education, public administration and compulsory social security.

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