15 May 2013

Egypt's Unemployment Rate Rises to 13.2 Percent

Unemployment rate in Egypt increased to 13.2 percent in the first quarter of 2013 from 13 percent in the fourth quarter of 2012, reported the Central Agency for Public Mobilization & Statistics (CAPMAS) on Wednesday.

The government statistics agency attributed the increase to the slowdown of economic activities, reported the Middle East News Agency.

Egypt has faced an economic slowdown, high unemployment rates and nonstop reduction of foreign exchange reserves since the toppling of the former President Hosni Mubarak in last year's uprising.

The statistics showed that the unemployment rate now amounts to 36 million citizens, with an increase of 63 thousand people. The rate rose by 1.8 percent from the previous quarter.

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