HCP Report: Unemployment Rate Hits 13.1% in Q2 2024

Rabat – The unemployment rate in Morocco has surged to 13.1% in the second quarter of 2024, the latest report from the Moroccan High Commission for Planning (HCP) has found, noting an increase of 0.7% pt. from the 12.4% recorded in the same period of 2023.

The number of unemployed individuals has grown by 90,000 from the second quarter of 2023 to the same period in 2024, reaching a total of 1,633,000. The figure represents a 6% rise, with 48,000 more unemployed in urban areas and 42,000 additional jobless individuals in rural areas.

According to the HCP report, the increase in the unemployment rate is flagrant both in urban and rural areas. In urban areas, the rate increased from 16.3% to 16.7%, a 0.4% pt. rise. In rural areas, the unemployment rate climbed from 5.7% to 6.7%, an increase of 1% pt.

The unemployment rate for women has meanwhile risen from 17% to 17.7%, while it has grown from 11% to 11.7% for men.

Youth unemployment has also seen a troubling rise, with the rate for individuals aged 15 to 24 climbing from 33.6% to 36.1%, a 2.5 percentage point increase.

For those aged 25 to 34, unemployment rose by 1.6% pt., from 19.8% to 21.4%. For the 35 to 44 age group, it increased by 0.1% pt. to 7.3%, and for those aged 45 and above, it went up by 0.1% pt. to 3.7%.

Even more telling, graduates are also experiencing a higher unemployment rate, which increased by 0.2% pt. From 19.2% to 19.4%.

The rise is particularly sharp among holders of secondary professional diplomas, with the unemployment rate in this group jumping by 3.2% pt. to 26.1%.

Last month, Younes Sekkouri, the Minister of Economic Inclusion, reported a notable 90% job placement rate for graduates of professional training programs during a questioning session at the House of Representatives.

Despite these promising figures, some parliament members expressed doubts about the accuracy of Sekkouri’s data. In particular, they questioned whether the minister’s data captured the reality of the Moroccan labor market, namely issues such as the increasing unemployment rate and related problems prevailing across Morocco.

In terms of underemployment, the number of underemployed individuals nationwide rose from 983,000 to 1,042,000 between Q2 2023 and Q2 2024.

The figure increased from 549,000 to 552,000 in urban areas, while it rose from 434,000 to 490,000 in rural areas.

The national underemployment rate climbed from 9% to 9.6%, with a slight decrease in urban areas from 8.4% to 8.3%. But it underwent a notable increase— from 9.9% to 11.6%—in rural areas.

Regarding the underemployed in terms of hours worked, the number grew from 465,000 to 583,000 nationally, with the corresponding rate rising from 4.2% to 5.4%.

Meanwhile, underemployment due to income insufficiency or a mismatch between education and job held decreased from 518,000 to 459,000 individuals, with the rate dropping from 4.7% to 4.2%.

By sector, underemployment increased by 1.7% pt. in the construction sector, from 17.2% to 18.9%, and by 1.9% pt. in agriculture, forestry, and fishing, going from 9.6% to 11.5%.

However, it dropped from 5.3% to 5% in the industrial sector, including crafts, and remained stable at 7.7% in the services sector.

The 2024 HCP report also revealed that Morocco saw a net decrease of 80,000 jobs between the first quarters of 2023 and 2024. This decline included a loss of 159,000 positions in rural areas—many of which were unpaid—offset by the creation of 78,000 jobs in urban regions.