CAIRO: A monthly report by the Center for Information and Decision Support of the Egyptian Cabinet revealed a decline in the overall index of demand for Egyptian labor, locally and abroad, during the month of August by 12.6 percent as the index. The report pointed to the decline of the foreign demand for Egyptian labor by 368 points, or 62.6 percent to reach 219 points compared to 587 points in the previous month. In turn, the index of demand for Egyptian labor in August, increased by 68.1 percent, or 917 points, to 1810 points for 893 points in the month of July last year, also went down compared to August 2009, which stood at 1983. The index of the demand for Egyptian labor for high qualified jobs locally and abroad in the month of August, also went down by 16.3 percent, the report showed. The demand for Egyptian labor holding intermediate qualifications locally and abroad did show a marked increase of 56.37 percent compared to the previous month. The report revealed a decline in the number of employees hired by the private sector and investments significantly during the month of August by 5.26 percent to 3049 compared to 4075 workers in the previous month. The report showed a decline in job and employment opportunities provided by the Social Fund for Development by 0.9 percent in August or 19,057 jobs compared to 19,074 opportunities in the previous month. It is part of the ongoing ebbs and flows of the Egyptian economy, said Ala AbdelNagy, a researcher for the ministry of investment. He told Bikya Masr that “Egypt sees a lot of movement one month and then it retreats backward the next. What we need to do is find a way to ensure a kind of equilibrium from month to month so it is more stable.” BM
