According to data released by Bank Al-Maghrib, the nation’s unemployment rate increased to 13% in 2023, which is the highest level since 2001.
The report also stated that the labor market situation remained challenging, with 157,000 jobs lost, meaning that the size of the labor market was 3.5% smaller than it was before the epidemic. In particular, the agriculture sector, which has been negatively impacted by adverse weather and water stress lost 202,000 jobs, bringing its percentage of the labor market down to 27.8% from 42.8% in 2000 and 37.8% in 2008.
The industrial sector, which includes traditional businesses, added 7,000 jobs, but these additions were insufficient to counterbalance the 15,000 jobs lost in the agricultural sector. On the other hand, after nearly stagnating in 2022, the situation in the construction and public works industry improved last year, with 19,000 new jobs created.
Morocco’s unemployment rate has historically averaged 10.3%, higher than the 6.8% average for the Middle East and North Africa region.
According to the bank’s annual report, the unemployment rate among young people aged 15 to 24 reached 48.3%, with two-thirds of the working-age population living in metropolitan regions where the rate was 16.8%.
Bank Al-Maghrib issued a warning, stating that certain highly skilled workers—for whom the nation has spent a great deal of money on education and training over an extended time may find themselves drawn to more sophisticated nations.
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