Key points
- Strict unemployment: 10.5%, up 0.9 point in one quarter.
- Paid employment: 10.5 million people, 173,000 fewer (−1.6%).
- Young people aged 15 to 24: 30.5%.
- Labour underutilisation: composite rate of 19.6%.
The quarter’s figures
According to the HCP, the strict unemployment rate stood at 10.5% in the third quarter of 2026. The number of people in paid employment reached 10.5 million, a net fall of 173,000 in one quarter.
| Group | Strict unemployment |
|---|---|
| All | 10.5% |
| Aged 15 to 24 | 30.5% |
| Women | 16.7% |
| Men | 8.7% |
| Urban areas | 12.5% |
| Rural areas | 6.9% |
The rates by sex and area come from Boursenews, which cites the HCP note. The same article counts 1,224,000 strictly unemployed people.
A new survey
These figures come from the Labour Force Survey (EMO), which replaces the National Employment Survey. The HCP describes new concepts and a sample of 135,000 households a year. It is therefore best to avoid comparing these figures directly with older series.
To understand this better
- Strict unemployment covers people without paid work who are actively looking for it and available.
- The composite rate goes further: it also counts people not classed as strictly unemployed, and underemployment linked to working time.
- The link with the stock market is not direct. Employment can weigh on consumption and credit, but a quarterly figure says nothing about how a share will move.
See the market map and the MASI on our Markets page.
Sources
This article is for information and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Investing in shares involves a risk of capital loss. Check figures against official sources (Casablanca Stock Exchange, AMMC) and consult a licensed professional. Read the full disclaimer.
