[News]Morocco Reaches Record-Breaking Unemployment Rate of 12.7%

[Revo]

 

Morocco’s unemployment rate has maintained its growth, reaching 12.7% in the third quarter of 2020, from July to September. In the previous quarter, the unemployment rate broke the highest record since 2001 when it reached 12.3%.

By annual comparison, Morocco’s unemployment rate increased by 3.3 points. In the third quarter of 2019, it stood at 9.4%.

The unemployment rate remains higher in Moroccan urban centers compared to rural areas. In cities, the unemployment rate rose from 12.7% in 2019 to 16.5% in 2020. Meanwhile, the rate in rural areas witnessed an annual increase from 4.5% to 6.8%.

Youth unemployment
Unemployment in Morocco remains most prevalent among young people aged 15 to 24, with 32.3% unemployed. Additionally, the unemployment rate among university graduates in Morocco is 18.7%.

 
By gender, the unemployment rate is higher among women (17.6%) compared to men (11.4%).

Overall, the total number of unemployed Moroccans increased by 368,000 between the third quarter of 2019 and the same period in 2020. It went from 1,114,000 to 1,482,000, recording a 33% annual increase.

Morocco’s High Commission for Planning (HCP) announced the new unemployment rate in its report on the domestic job market’s evolution in the third quarter of 2020. The HCP published the report on November 3.

Over half a million lost jobs
Between the third quarter of 2019 and the same period in 2020, the Moroccan economy lost 581,000 jobs, including 237,000 positions in cities and 344,000 in rural areas.