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Unemployment rate in Morocco drops to 11.2% in 2022 Q2

Published

2 years ago

August 5, 2022

Data released by the Moroccan Higher Commission of Planning (HCP) on Friday has shown that the North African country’s national unemployment rate has dropped by 11.2% in the second quarter of 2022.

The data revealed that the figure was a slight improvement from the 12.8% it recorded in the same period in 2021.

The HPC report showed that unemployment in urban areas decreased by 2.7%, going from 18.2% in Q2 of 2021 to 15.5% at the end of Q2 in 2022, while the rate in rural areas remains a bit higher.

Giving a breakdown of the unemployment figures alongside gender demographics, the HCP data reveal that unemployment fell by 2% for the country’s male population to stay at 9.9%, down from 11.9% last year.

The rate for the female labour force, according to the data, dropped from 15.9% to 15.1% over the same period.

But despite remaining at high levels, unemployment among Morocco’s college graduates saw a decrease over the past year, going from 20.4% to 18% while joblessness among the non-graduate population went down from 5% in 2021 to 3.6% at the end of June 2022, the data noted.

Related Topics:Featured Labour Market Morocco Unemployment

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Nigeria’s Dangote Refinery exports first fuel to Cameroon

Published

4 days ago

December 12, 2024

Ifeoluwa Dada

The Dangote Refinery in Nigeria said on Wednesday that it had exported its first petrol to Cameroon, marking a significant milestone that may help stabilise gasoline costs throughout the region and open the door for regional energy integration.

When fully operational, Nigerian billionaire Aliko Dangote’s 650,000-barrel refinery in Lagos is intended to alter the trade of refined products in the Atlantic basin and compete with refineries in Europe.

According to a statement by Neptune Oil, an energy company based in Cameroon, both businesses were looking into new projects to create a dependable supply chain that would assist in stabilising fuel costs and opportunities throughout the area.

According to Neptune Oil, there were no middlemen involved in the petrol delivery deal.

It is anticipated that the refinery’s operations will spur growth in the upstream, midstream, and downstream sectors, increasing investments in cement manufacture, plastic and rubber production, chemical and pharmaceutical goods, and oil refining.

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Egypt’s November inflation drops to 25.5%, near 2-year low

Published

6 days ago

December 11, 2024

Ifeoluwa Dada

According to figures released Tuesday by statistics agency CAPMAS, Egypt’s annual urban consumer price inflation rate fell more than anticipated to 25.5% in November, the lowest level since December 2022.

Following the Russian invasion of Ukraine, which caused international investors to pull billions of dollars out of Egyptian treasury markets, inflation started to rise sharply in early 2022.

In September 2023, headline inflation reached a record high of 38.0%. It dropped to 26.5% by October 2024.

In a Reuters survey last month, 15 economists’ consensus prediction was for annual inflation to gradually decline to 26.4%.

According to CAPMAS statistics, headline inflation decreased from 1.1% in October to 0.5% in November every month.

Compared to October, when they fell 1.1%, food costs fell 2.8% over the month, making them 23.3% more than they were a year ago.

An increase in the money supply has been a major contributor to inflation. According to central bank data, Egypt’s M2 money supply increased by 29.54% in October compared to the same month last year.