Morocco’s unemployment rate hits 11.2 percent in 2H 2003
Morocco’s unemployment rate reached 11.2 percent in the second half of 2003, with over one million people without work, according to the Minister of Labor Mustapha Mansouri. These figures represent a 0.8 percent increase compared to the unemployment rate for 2002.
According to Mansouri, unemployment mainly affects urban populations, representing 19.2 percent of unemployed people and young graduates.
According to the International Monetary Fund (IMF) Morocco's growth performance over the last decade has not been strong enough to reduce poverty. Growth has also been volatile because of the impact of recurrent drought conditions on agricultural output. While non-agricultural growth has been relatively steady in recent years and has shown signs of revival, structural rigidities have constrained potential growth. Thus, unemployment has remained high and social indicators still indicate needs for significant improvement. — (menareport.com)
© 2003 Mena Report (www.menareport.com)