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A Closer Look at Morocco's Labor Market Amid Rising Unemployment Rates in Q3 2024
The latest report from the Haut-Commissariat au Plan (HCP) reveals a troubling increase in Morocco's unemployment rate, which has risen to 13.6% in the third quarter of 2024. This marks a slight uptick from 13.5% during the same period last year, despite the net creation of 213,000 jobs over the past year. Notably, the number of unemployed individuals grew by 58,000, indicating a disconnect between job creation and labor market absorption.
In a separate analysis, the Economic, Social and Environmental Council (CESE) has sounded the alarm on the structural decline in women's employment participation. The council's recent annual report highlights that only 19% of women are engaged in economic activities, starkly contrasting with a 70% participation rate among men. Alarmingly, unemployment among female graduates stands at an astonishing 35%. In light of these findings, CESE has called for urgent action to enhance women's economic empowerment and address the enduring inequalities that hinder socio-economic progress in Morocco.
The HCP's report also indicates that unemployment among graduates has reached 20.3%, while overall unemployment rose by 0.8 points to 13.7% in early 2024. The youth demographic, particularly those aged 15 to 24, faces the highest unemployment rates at 35.9%, underscoring a critical challenge for policymakers.
Additionally, regional disparities persist within the labor market. The Casablanca-Settat region accounts for 25.4% of all unemployed individuals, followed by Fès-Meknès and Rabat-Salé-Kénitra with 13.4% and 13%, respectively. The report emphasizes that five regions collectively house over 71% of all unemployed persons.
As Morocco grapples with these labor market challenges, including high unemployment rates and gender disparities, it becomes increasingly vital for stakeholders to collaborate on effective strategies that foster job creation and promote equitable economic participation across all demographics.