Economy

Morocco’s Unemployment Rate Rises to 13.3% in 2024

Morocco’s⁤ Unemployment Rate Climbs to 13.3% in‌ 2024

Unemployment ​in Morocco edged upwards to 13.3% in ‌2024, according to a‍ recent report from the High Commission for Planning (HCP), painting ⁤a concerning picture of the North African nation’s job market. This represents a 0.3 percentage ‍point increase from the ⁢13% rate recorded ‍in 2023. The rise in ​unemployment ‌comes despite Morocco’s ​efforts to diversify its economy and attract foreign investment. ‌The global economic slowdown, coupled ‍with regional⁣ instability, may have contributed to this​ uptick.

The HCP’s data​ reveals a nuanced ⁢picture of the unemployment landscape, with disparities between‌ urban and rural areas,⁤ as well as significant gender differences. While urban unemployment saw a marginal increase of 0.1 percentage point, rising from 16.8% to 16.9%, ‍rural unemployment experienced ‌a sharper jump of ‍0.5 percentage points, climbing from 6.3% to ‌6.8%. This highlights the ongoing challenges faced by rural communities in accessing ⁢job opportunities.⁢ This ​urban-rural divide is a⁣ common theme in developing economies, often⁤ reflecting differences in access to education, infrastructure, and economic opportunities. [Link to a relevant World Bank report on rural unemployment]

The overall increase in⁣ unemployment ‌translates to an additional 58,000 individuals joining the ranks of the⁤ jobless,​ bringing the total number of unemployed Moroccans to 1.638 million. Of these, 42,000 are located in urban areas and 15,000 ​in rural areas. This 4% increase year-over-year underscores the urgency of addressing the ‌employment‍ challenge. Youth unemployment remains a particularly ⁤pressing issue, with a rate hovering​ around 36.7% ​for those aged 15-24. This⁢ high rate of ‍youth unemployment poses a significant risk‍ to⁤ social stability and⁤ long-term economic ‍growth.⁢ [Link to a relevant article on youth unemployment in MENA region]

Women ‍have been disproportionately affected⁢ by the rise in unemployment. The female unemployment rate jumped by 1.1 percentage points to 19.4%, compared to a negligible 0.1 ⁣percentage point increase for men, ‍whose unemployment rate stands at​ 11.6%. This gender gap in unemployment ⁢reflects persistent inequalities in the ‌labor market ‍and underscores the need for targeted interventions to empower women and improve their access‍ to decent work. [Link to a relevant UN Women report on gender equality and employment]

Interestingly, the unemployment rate among degree ‍holders saw a​ slight decrease ⁣of 0.1 percentage‌ point to⁢ 19.6%. However, this positive development is overshadowed by the increasing unemployment among those without any qualifications,⁣ which rose by 0.3 ⁣percentage points to 5.2%. This highlights the importance of investing in⁤ education and skills development to equip individuals with⁤ the tools ⁢they need to succeed‍ in the⁣ job market.⁣ Furthermore, the HCP noted a significant increase in unemployment among⁤ holders of vocational qualifications ‍(up ‍1.5 points to 23.9%) and secondary‌ school diplomas (up 1.3 points to 24.6%). This suggests ⁢a potential mismatch between the ‌skills‍ being⁣ acquired ​through education and training ⁣programs​ and the demands of the labor market.

The report also⁢ sheds light on the‍ duration of⁢ unemployment. The proportion of those unemployed for ​less ‍than a year increased⁤ from 33.3% to 37.1%, ​leading to a slight decrease in the average duration of⁤ unemployment from 32 months to 31 months.⁢ Among the reasons cited​ for unemployment, job loss due ⁢to dismissal or business ‌closure accounted for 30%, while 25.6% became unemployed after completing their studies. The data reveals that over half (50.7%) of the⁣ unemployed had previously held jobs, with the ⁢majority (80%)‍ residing​ in urban areas and over three-quarters being‌ male. Young people aged ⁢15-34 ⁤constitute more than half of the unemployed population.

the HCP’s report also touches upon underemployment. The “agriculture,⁣ forestry, and fishing” ‌sector saw a 0.9 percentage point increase in the underemployment​ rate, followed by “construction and public works”‌ with⁣ a 0.4⁤ point increase, and “services”‌ with a 0.2 point increase. Underemployment related to working hours increased⁣ from 512,000 individuals in 2023 to 595,000 in 2024. Conversely, underemployment ⁢related to skills mismatch ⁤decreased from 531,000 to 486,000. ‍These figures highlight the⁤ complex nature of the employment challenge in Morocco, encompassing ‌not⁤ only unemployment but also the issue of individuals working in ‌jobs that do⁣ not fully utilize their⁤ skills or provide ⁢adequate‍ working hours.

This concerning rise in unemployment underscores the need for‍ comprehensive‍ policy responses that address the root causes of​ joblessness, promote inclusive economic growth, and equip individuals​ with the skills ⁢and opportunities they need to⁢ thrive ⁤in a‍ rapidly changing labor market.

The MoroccoMirror team

The MoroccoMirror team is a group of passionate journalists dedicated to Morocco and its rich culture and history. We strive to provide comprehensive coverage of the latest events in the country, from politics and economics to culture and sports. Our commitment is to deliver accurate and reliable information to our readers, while maintaining an engaging and enjoyable style.

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