Egypt Competes with India and China for Jobs
In the United States, it seems like people of all ages are facing harsh conditions from unemployment, although some sources do focus on the unique predicament of young people. But when you compare this dilemma with that of Egypt, suddenly the statistics in the U.S. seem rather benign.
When you imagine life in Egypt, do you imagine streets full of twenty somethings? In Egypt, most people are under thirty. Ninety percent of their unemployed fit into this age group.
Fresh out of school and prepared to work, these Egyptians struggle to find work. In recent years, the government has tried to promote foreign countries to hire their unemployed but talented workforce, particularly jobs in technology.
Although India and China dominate the market for outsourced IT jobs, Egypt hopes that foreign companies will come to trust their workers as viable employees in today’s market– particularly now that many institutes of higher learning have come to focus on technology.
According to a report by Arabian Business, Egypt is up to $1.1 billion in outsourced revenue, and plans to hit $3 billion by 2015. If Egypt continues to grow its revenue from outsourced jobs, recruiters can expect changes in available jobs in the United States as well as shifting global markets. Yet another excuse to crack open that Arabic textbook (or simply look for a new source of talent).