Morocco - Unemployment rate reached almost 10% in the 3rd quarter of 2014.
11 November 2014
Read by 1711 persons
In a recent report on employment figures in Morocco, the High Commission for Planning (HCP) confirms the difficult period experienced by the Moroccan economy: the unemployment rate increased from 9.1% to 9.6% between the 3rd quarter of 2013 and the 3rd quarter of 2014, an increase of 0.5 points.
In a report released in early January, the HCP estimated that growth in 2014 would not be strong enough to boost job creation; it predicted it would be around 2.4%. Worse, it predicted a further rise in unemployment, "reaching 9.8% of the active population compared to 9.1% in 2013." The downturn in agricultural GDP will negatively impact economic growth for 2014, it indicated, specifying that "even if the Moroccan economy were to create about 60,000 jobs in 2014, the unemployment rate will rise to 9.8% compared to 9.1% last year."
Net job losses
In the 3rd quarter of 2014, the Moroccan economy only managed to create 58,000 jobs, the HCP estimates in its latest information report, published on its official website: "Morocco created 133,000 jobs in the secondary and tertiary sectors and lost 75,000 in agriculture, forestry and fishing, resulting in a net job creation of 58,000 jobs, 36,000 in urban areas and 22,000 in rural areas."
The number of unemployed people thus increased by 64,000 (40,000 in urban areas and 24,000 in rural areas), bringing the total unemployment to 1,140,000 people, according to the HCP. As for underemployment, it increased from 9.4% to 10.6% nationally.
With an active working-age population estimated at 11.85 million people, the activity rate decreased between the 3rd quarter of 2013 and the same period of 2014, from 48.5% to 48.2%, a decrease of 0.3 points.
A serious setback for Abdelilah Benkirane
The recent unemployment figures put further pressure on the government of Abdelilah Benkirane, who has reassured neither the business and economic circles about the validity of his economic policy, nor the unions about his social strategy and the protection of workers' purchasing power.
In November 2011, upon his appointment as head of the government executive, Abdelilah Benkirane presented an economic program focused on 5.5% growth, with the objective of reducing unemployment to 8%. Midway through his term, the situation is gloomy: unemployment remains above 9%, with an increase of 0.1 to 0.3 points between 2012 and 2013, according to the HCP, while underemployment increased from 10.5% in 2011 to just over 10% in 2014. In contrast, economic growth does not reach 4%, while the budget deficit reached 7% in 2012 and 5.5% in 2013.
Merouane Korso.
Maghrebemergent.info
Published on November 10, 2014.
Posted online on November 11, 2014.
In a report released in early January, the HCP estimated that growth in 2014 would not be strong enough to boost job creation; it predicted it would be around 2.4%. Worse, it predicted a further rise in unemployment, "reaching 9.8% of the active population compared to 9.1% in 2013." The downturn in agricultural GDP will negatively impact economic growth for 2014, it indicated, specifying that "even if the Moroccan economy were to create about 60,000 jobs in 2014, the unemployment rate will rise to 9.8% compared to 9.1% last year."
Net job losses
In the 3rd quarter of 2014, the Moroccan economy only managed to create 58,000 jobs, the HCP estimates in its latest information report, published on its official website: "Morocco created 133,000 jobs in the secondary and tertiary sectors and lost 75,000 in agriculture, forestry and fishing, resulting in a net job creation of 58,000 jobs, 36,000 in urban areas and 22,000 in rural areas."
The number of unemployed people thus increased by 64,000 (40,000 in urban areas and 24,000 in rural areas), bringing the total unemployment to 1,140,000 people, according to the HCP. As for underemployment, it increased from 9.4% to 10.6% nationally.
With an active working-age population estimated at 11.85 million people, the activity rate decreased between the 3rd quarter of 2013 and the same period of 2014, from 48.5% to 48.2%, a decrease of 0.3 points.
A serious setback for Abdelilah Benkirane
The recent unemployment figures put further pressure on the government of Abdelilah Benkirane, who has reassured neither the business and economic circles about the validity of his economic policy, nor the unions about his social strategy and the protection of workers' purchasing power.
In November 2011, upon his appointment as head of the government executive, Abdelilah Benkirane presented an economic program focused on 5.5% growth, with the objective of reducing unemployment to 8%. Midway through his term, the situation is gloomy: unemployment remains above 9%, with an increase of 0.1 to 0.3 points between 2012 and 2013, according to the HCP, while underemployment increased from 10.5% in 2011 to just over 10% in 2014. In contrast, economic growth does not reach 4%, while the budget deficit reached 7% in 2012 and 5.5% in 2013.
Merouane Korso.
Maghrebemergent.info
Published on November 10, 2014.
Posted online on November 11, 2014.
