Taroudant, Morocco: 1st Q 2014 unemployment rate soars to 10.2%, exceeds 9.4% rate over same the period last year.
According to figures released by the High Commission for Planning (HCP), Morocco’s national unemployment rate climbed to 10.2% over the first quarter of 2014.
“The number of unemployed persons in Morocco increased by 114,000 people between the two periods, 74,000 in urban and 40,000 in rural areas, reaching 1,191,000 people,” according to an HCP briefing note.
On the situation of the labor market, in the first quarter of 2014, the HCP briefin reported that the unemployment rate rose from 9.4% to 10.2%, registering an increase of 0.8 percentage points.
Unemployment remains very high in certain categories of the population, especially university graduates and young people aged between 15 and 24 years old.
Unemployment was the highest among holders of advanced diplomas (20.9%), and especially among holders of certificates granted by universities (23.3%).
Among young people aged 15-24 years, the unemployment rate was 20.2% instead of 19.5% last year. In urban areas, unemployment increased from 13.7% to 14.6%, and in rural areas from 4.4% to 5.1%.
According to the HCP briefing note, some 89,000 jobs, including 46,000 in urban areas and 43,000 in rural areas, were created in the Moroccan economy between the first quarter of 2013 and the first quarter of 2014.
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