Skip to content Skip to Search
Skip navigation

Morocco job market hit by rise in rural unemployment

Unemployment increased from 15.8 percent to 16.8 percent in urban areas of Morocco marketplace Marrakesh Marrakech Pexels/Piotr Arnoldes
Unemployment increased from 15.8 percent to 16.8 percent in urban areas of Morocco
  • Unemployment up by 13%
  • Agriculture and fishing hit hard
  • Construction created 19,000 jobs

Morocco’s unemployment rate increased by 13 percent to nearly 1.6 million last year as the country’s rural areas haemorrhaged jobs.

Between 2022 and 2023, the national economy lost 157,000 jobs, according to the latest figures from the Higher Commission of Planning.

Although urban areas recorded an increase of 41,000 jobs, employment in rural parts of the North African country dropped by 198,000 positions.

The impact was most keenly felt in the agriculture, forest and fishing sector, where 202,000 jobs were lost across the year.

The construction sector created about 19,000 jobs as Morocco built back from the devastating earthquakes that hit the country in September, while the services industry saw the creation of 15,000 posts and “industry including crafts” 7,000.

Total unemployment for the year increased by 138,000, which was made up of 98,000 jobless individuals in Morocco’s urban areas and 40,000 in rural areas.

It remains higher among young people aged 15 to 24 (35.8 percent), graduates (19.7 percent) and women (18.3 percent).

Last year the IMF predicted unemployment in Morocco would reach 12 percent by the end of 2023, before falling to 11.7 percent in 2024, “indicating the potential for improved job prospects in the coming years”.

The latest World Bank report forecast that Morocco’s real GDP growth would be 3.1 percent in 2024, 3.3 percent in 2025 and 3.5 percent in 2026, as domestic demand gradually recovers from recent shocks.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]