Published: 2021-02-03 18:24
Last Updated: 2021-02-28 08:59
Wednesday, the Moroccan High Commission for Planning announced that the Moroccan economy lost over 430,000 jobs, with unemployment affecting about 1.5 million Moroccans due to the repercussions of the COVID-19 pandemic and the drought which affected the agricultural sector.
"In a context marked by the health crisis associated with the COVID-19 pandemic and the dry agricultural season, the labor market situation during the year 2020 witnessed a deterioration," the report issued by the High Commission for Planning said, estimating the number of job positions that were lost at 432,000.
Rural areas recorded the largest share of lost jobs (295,000), as the most important agricultural sector in the country was affected by the repercussions of the drought.
Unemployment rates rose to 1,429,000, an increase of about 322,000. The unemployment rate reached 11.9 percent in Morocco, registering the highest increase compared to 2019 among young people (15-24 years), according to the commission.
The repercussions of the pandemic and drought have caused an unprecedented economic recession in Morocco, with a decline of 6.3 percent, resulting in the worst recession in 24 years according to estimates by the Central Bank.
Meanwhile, the government hopes to achieve a growth rate of 4.8 percent for 2021.
Morocco is betting on a nationwide COVID-19 vaccination campaign to return to a normal life, using the AstraZeneca and Sinopharm vaccines. Additionally, 291,257 people have been vaccinated since the start of the campaign Thursday, according to the Ministry of Health.