Data from Bank Al-Maghrib revealed today, Thursday, that unemployment rates in the country surged to 13% in 2023, marking the highest level since 2001. The annual report issued by the bank indicated that the unemployment rate in urban areas, which encompass two-thirds of the working-age population, reached 16.8%. Among youth aged 15 to 24 years, the rate peaked at 48.3%.
The report added that the labor market situation remained challenging, with a loss of 157,000 jobs, leaving the labor market size 3.5% lower than its pre-pandemic levels. Specifically, the agricultural sector, which has been grappling with unfavorable climatic conditions and water stress, lost 202,000 jobs, decreasing its share of the total labor market to 27.8% compared to 37.8% in 2008 and 42.8% in 2000.
Despite the services sector adding 15,000 jobs and the industrial sector, including traditional industries, contributing 7,000 jobs, these positions were insufficient to offset the losses in the agricultural sector. Conversely, the construction and public works sector improved after a near stagnation in 2022, adding 19,000 jobs last year.
Bank Al-Maghrib also warned that some skills, for which the country has invested significantly in education and training over many years, are at risk of being attracted by developed countries.
