Workforce to rise by 650,000

Egypt workforce is expected to rise by 650,000 to 19, 8 million during the 2005/2006 plan.

This statement by Minister of Planning Osman Mohamed Osman came during an interview with the Middle East News Agency yesterday, when he explained that the commodity sectors of agriculture, industry, petroleum, electricity and water should provide 46 percent of the new jobs required during this fiscal year.

"Bigger growth rates will be part of a real solution to unemployment," Osman said, adding "This must be coupled with a proper national employment program."

Minister Osman pointed out that an increase in growth rate by one percent would generate between 130,000 and 150,000 new jobs.

The government is about to apply strategies to reduce unemployment by encouraging small and medium scale enterprises (SMES), conducting market research and widening financial services with a view to improving credit schemes, the minister said.

"Meanwhile, we should boost labor-intensive activities, which include tourism, craft and small projects," Osman added.