RABAT (Reuters) – Morocco’s unemployment rate rose last year to 11.9% from 9.2% in 2019, the planning agency said on Wednesday, citing the double impact of the COVID-19 pandemic and drought. … The unemployment rate among people aged 15 to 24 rose to 31.2%.
Is unemployment a problem in Morocco?
As in most countries in the MENA region, unemployment is a major concern in Morocco, especially among university graduates. Between 2016 and 2018, the national rate of unemployment rose from 9.9 to 10.5 percent, according to Morocco’s High Commission for Planning (HCP).
What is the unemployment rate in Morocco?
In 2020, the unemployment rate in Morocco was at 10.15 percent.
What causes high unemployment?
When businesses contract during a recessionary cycle, workers are let go and unemployment rises. When unemployed consumers have less money to spend on goods and services, businesses must contract even further, causing more layoffs and more unemployment.
What are the causes of unemployment in Morocco?
Joblessness is a structural problem with several factors driving it. Population is rising beyond the economy’s capacity to create jobs. There is insufficient decent-job creation in the private sector. The inadequate supply of skills by the education system is also a major hindrance to youth accessing the labour market.
What is the most common job in Morocco?
Key sectors of the economy include agriculture, tourism, textiles, phosphate rock mining and processing, food canning, construction, energy, and subcomponents. The economy remains dependent on the state of the agricultural sector, in which 39.1% of the people working in Morocco are employed.
Does Morocco have a good economy?
Morocco is a fairly stable economy with continuous growth over the past half-century. Current GDP per capita grew 47% in the 1960s, reaching a peak growth of 274% in the 1970s.
Are Moroccans wealthy?
The statistics appeared on the 2019 Global Wealth Report, published by Credit Suisse Research Institute on October 21. The report detailed wealth distribution in Morocco. Out of the 23.6 million adults in Morocco, 75.5% have a net worth of less than $10,000 (around MAD 90,000).
What are the three causes of unemployment?
Main Causes of Unemployment in India
- (i) Caste System: …
- (ii) Slow Economic Growth: …
- (iii) Increase in Population: …
- (iv) Agriculture is a Seasonal Occupation: …
- (v) Joint Family System: …
- (vi) Fall of Cottage and Small industries: …
- (vii) Slow Growth of Industrialisation: …
- (ix) Causes of Under Employment:
What are 4 types of unemployment?
There are basically four types of unemployment: (1) demand deficient, (2) frictional, (3) structural, and (4) voluntary unemployment.
What are the major problems caused by unemployment?
The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health …