Source: Economic Research Forum
Author(s): Ragui Assaad, Caroline Krafft
Policy discussions about the health of the economy and the labor market in Egypt often focus almost exclusively on one indicator, namely the unemployment rate.
This policy perspective argues that the unemployment rate is a poor indicator of the cyclical performance of the labor market and that it focuses attention on the plight of the well-off, not those who are the most vulnerable to poor labor market conditions.
This policy perspective demonstrates that the unemployment rate is primarily driven by the age and education structure of the population, rather than by economic fluctuations. The unemployed are primarily educated, middle and upper class new entrants into the labor market, a relatively advantaged segment of society…
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