| المستخلص: |
Introduction: The global financial crisis has emerged in the United States of America in 2008. Given the enormity of the U.S. economy and its impact on the global economy, the world crisis has spread to both Europe and developing countries economies. The global economic recession has led to drooping in the global demand for the Egyptian goods and services therefore the deceleration in the Egyptian economy growth has been occurred. The real growth rate fell from 7.6% in 2007/08 to 4.1% in 2008/09. The purpose of this paper is to draw the latest available data in order to document the consequences of the crisis especially on employment and unemployment in Egypt. The main findings of the study: 1- Impact of the financial crisis on the financial and economic aspects in Egypt was as follows: a) The GDP growth rate has declined up to 4.1% during the second quarter of 2008/09. b) The net of foreign direct investment declined by about $ 5 billion in 2008/09 compared to 2007/08. c) A drop in remittances from U.S. $ 2.285 billion during the last quarter of 2007/08 to about 1.95 billion U.S, dollars in the first quarter of the year 2008/09. d) Balance of payments deficit by about $ 3.4 billion during 2008/09 compared with $ 5.4 billion surplus during the previous year. e) The (case 30) index dropped by 56% during only one which suggests that the Egyptian stock exchange was one of the worst hit. f) Fortunately, the Egyptian economy has improved during 2009/10, where the economic growth rate rose from 4.7% in 2008/09 to 5.1% in 2009/10, and it is expected to reach 5.5% during 2010/11. 2- Impact of the financial crisis on employment and unemployment was as follows: a) Increase in the total unemployment rate which reached to 9.4% during the first quarter of 2009. The unemployment rate among male during the same period was 5.2% but there was a significant increase of unemployment rate among female (22.9%). b) Decrease in the number of new entrants in the labor market during the period from June 2008 to June 2009, who estimated about 400 thousand people only compared to 1.2 million for the same previous period. c) According to the results of the following up survey, about 52% among those who do not work in 2009 were working in 2008, and Finally, as a result of improving in economic indicators during 2009/10, unemployment rate decreased from 9.4% to 8.9% during the period from June 2009 to in June 2010. Thus unemployment rate has approached the prevailing level before the exacerbation of the global crisis.
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