Morocco’s unemployment rate drops to 10 pct in Q3
RABAT - Morocco's unemployment rate dropped to 10 percent at the end of September, down from 10.6 percent a year earlier, the planning agency said on Monday citing a growth in jobs created in the services sector.
The number of unemployed people decreased by 64,000 to 1.172 million, the agency said in a statement.
In a year, starting from the third quarter of 2017, the economy created 122,000 jobs compared to 89,000 year-on-year, it added.
Services created 98,000 jobs followed by industry and handicrafts with 19,000.
Fisheries and Agriculture, which together account for about 17 percent of Morocco’s GDP, created 9,000 jobs while 4,000 were lost in the construction sector.
In its annual predictions for 2018, the agency expects the unemployment rate to remain flat at 10.4 percent, from 10.2 percent in 2017.
However, informal labour abounds in Morocco, making it hard to produce reliable employment figures.
The government expects the local economy to grow by 3.6 percent this year and 3.2 percent in 2019.