Unemployment in Morocco

Morocco Unemployment | Economic News & Forecasts

Morocco - Unemployment

Economic activity was likely derailed in the first quarter. Lockdown measures will have weighed heavily on the tourism and retail sectors since they were implemented in late March, while agricultural production likely contracted notably in Q1 due to poor weather conditions, and industrial production activity likely ebbed. Prospects for the second quarter are even bleaker. In May, an estimated 87% of Moroccan hotels were shuttered due to Covid-19. Moreover, employment levels are falling in the non-agricultural sector, while depressed commodity prices are dragging on the terms of trade. A public-private fund worth roughly 2.7% of GDP has been allocated to deal with the economic fallout from Covid-19, and the government called on all available funds (USD 3 billion) from the precautionary and liquidity line from the IMF to address the pandemic. In late April Fitch Ratings revised its outlook on Morocco's credit rating from stable to negative due to growing twin deficits.

Morocco - Unemployment Data

2014   2015   2016   2017   2018  
Unemployment Rate9.7  9.6  9.9  10.2  9.7  

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Morocco Unemployment Chart


Morocco Unemployment
Note: Unemployment in % of active population.
Source: Higher Planning Commission of Morocco.

Morocco Facts

Value Change Date
Bond Yield3.020.0 %Dec 31
Exchange Rate9.56-0.29 %Dec 31

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