News
Monday 6 July 2015

Unemployment rate up to 9.9% in 2014, central bank

Vocal synthesis
Unemployment rate up to 9.9% in 2014, central bank

The unemployment rate posted its third consecutive rise, standing at 9.9% in 2014 versus 9.2% in 2013 despite the drop of 0.3 points in the activity rate, according to a report by Bank Al Maghrib (central bank).This increase occurred in a context marked by the slow recovery of non-agricultural activities and an average crop year, said the bank's annual report on the economic and financial situation in 2014 which was presented on Friday to HM King Mohammed VI.

 The deteriorating situation of the labor market was more conspicuous in urban areas and particularly among young people aged 15 to 24, of whom nearly four out of ten are jobless, said the bank, attributing these results to a net creation of 21,000 jobs, the lowest in the last fourteen years after the 1,000 jobs registered in 2012.

 The industry sector lost 37,000 jobs, the most important since 2009, while the construction and civil engineering industry stagnated after two years of significant drops, it said.

MAP 04 July 2015