What Does the Text Say? - Jacob went to Egypt of his 75 descendants, Joseph was already there. Each generation of Israelites increased abundantly, causing the Egyptians to regard them as a possible threat, so they made the Israelites their slaves and treated them harshly. The worse the Israelites/Hebrews were treated, the more their numbers increased. Pharaoh told the Hebrew midwives to kill each male baby at birth, but they didn't as they worshipped God. The midwives told Pharaoh the Hebrew women gave birth before they got there, so Pharaoh told his people to throw all Hebrew baby boys into the river.
Application? Being treated badly maybe God's Provision for future freedom. Do I obey God trusting His Power, or obey men because I fear their power over me? God Blesses those who honour Him.