March 22, 2009
The Global Financial Crisis and the Egyptian Labor Market workshop
Deputy Director & Lead Economist of the Egyptian Center for Economic Studies, Professor Naglaa El Ehwany, was the first presenter. Her presentation “Current Imbalances in the Egyptian Labor Market and the Potential Impacts of the Financial Crisis" outlined a few of the major challenges facing the labor market in light of global economic downturn. Ms. Dorothea Schmidt, Employment Specialist at the International Labor Organization, followed with a presentation titled, “Measures taken Worldwide to Mitigate the Impact of the Global Financial Crisis on Labor Markets.” Her recommendations targeted both unemployed and employed segments of the population. Although many of the suggested policies to soften the effects of the crisis have had limited implementation in developing countries, their success in developed countries indicates that much can be done to help the Egyptian labor market shield itself from international economic turbulence. Ms. Iman Zakaria, head of the vocational training unit at the Ministry of Manpower and Immigration, spoke in lieu of Her Excellency Ms. Minister Aisha Abdel Hady. She noted several of the effects of the financial crisis on the labor market and reiterated the ministry’s commitment to creating employment and maintaining stability. Finally, Mr. Adham Nadim, Executive Director of the Industrial Modernization Center, gave final remarks on the role of the private sector in managing the labor market.
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