Rio Times Markets · Morocco
More Moroccans were out of work in the third quarter: the unemployment rate rose to 10.5% from 9.5%, though it beat gloomier forecasts.
Key Facts
- What Morocco’s unemployment rate was 10.5% in the third quarter of 2026, up from 9.5%.
- Forecast Analysts expected 12%, so the rate came in 1.5 points lower.
- Trend It was 10.8% in the first quarter and 9.5% in the second.
- Caution A new survey method started in 2026, so old figures are not comparable.
What The Data Show
Morocco’s unemployment rate was 10.5% in the third quarter of 2026, up 1 percentage point from 9.5% in the second quarter. The figure is the strict unemployment rate, which counts people without work who are actively looking for it.
Analysts had expected 12%, so the actual rate was 1.5 points lower. The outcome beat the forecast even though the direction was upward.
Where It Sits In The Trend
The rate was 10.8% in the first quarter of 2026, fell to 9.5% in the second and has now risen to 10.5%. The third quarter therefore reverses most of the second-quarter fall.
The HCP, Morocco’s high commission for planning and its statistics agency, moved to a new employment survey in 2026. Under the old method the rate was 13.1% in the third quarter of 2025, so the new and old series are not like for like.
Why It Matters Abroad
Jobs are a central economic concern in Morocco, and the country is preparing to co-host the 2030 football World Cup. A rising jobless rate hurts most the households that depend on casual or seasonal work.
The 12% forecast is closer to the old survey’s 13.1% than to the new series’ 10.8% and 9.5%. The two surveys are not directly comparable.
What We Do Not Know Yet
The release data we hold do not say whether the rise reflects lost jobs, more people searching for work or seasonal timing. We have no split by age group or between town and countryside.
We will not guess at a cause. One quarter cannot separate a seasonal swing from a lasting shift.
What Would Confirm Or End The Rise
A fourth-quarter rate below 9.5% would reverse the rise, and one near 10.5% would suggest the higher level is holding. A rate at or above 12% would signal a faster weakening.
The next quarterly release will also show whether the new series is settling near 10%. Until then the third-quarter figure stands alone.
Sources: Morocco strict unemployment rate, third quarter 2026, with consensus and previous values from the RT economic calendar; Haut-Commissariat au Plan (HCP) employment survey figures for the first and second quarters of 2026 and the third quarter of 2025. Background: Morocco Explained. This is news, not investment advice.
Frequently Asked Questions
What was Morocco’s unemployment rate in the third quarter of 2026?
The rate was 10.5%, up from 9.5% in the second quarter and 1.5 points below the 12% forecast. That is a rise of 1 point.
Why can old and new Moroccan jobless figures not be compared?
The HCP, Morocco’s statistics agency, introduced a new employment survey in 2026. Its figures are not like for like with earlier years.
Did Morocco’s unemployment rate beat expectations?
Yes. The 10.5% reading was below the 12% consensus, even though joblessness rose from the second quarter.
What would show the rise is reversing?
A fourth-quarter rate below 9.5% would reverse it. A rate at or above 12% would point to faster weakening.
More: Morocco news, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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