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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
MoroccoMorocco Unemployment Rate fell to 10.8% in January 2026
FMPMonthlyReleased May 2026
Morocco Unemployment Rate fell to 10.8% in January 2026, released May 2026, down 2.2% from December's 13.0% reading. The print came in cooler than the 13.4% consensus, a softer print than forecasters anticipated. Unemployment Rate has now declined for 3 consecutive months. Unemployment Rate is now the lowest in 30 months.
Latest Release
10.8
Actual
13.4
Consensus
13
Previous
Median Absolute Error
±0.3 percentage points
across last 12 releases
Last Call
Feb 2026
Predicted: 12.9
Actual: 13
Error: -0.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unemployment Rate (Morocco) was reported at 10.8% in May 2026. This missed the market consensus of 13.4% by 2.6%. The reading fell from the previous value of 13%. Trailing 12-month context per ETL data through February 2026.
WHY IT MATTERS
The trailing three releases averaged 12.97%, down from the prior three at 13.13%. In February readings over the past 3 years, Unemployment Rate has averaged 13.15%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 0.3%.
Auto-generated from current model state · Refreshes on each release · Last update February 2026.
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Unemployment Rate - MA
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About Unemployment Rate — Morocco
DEFINITION
The Unemployment Rate is a key economic indicator that measures the percentage of the total labor force that is currently without a job and actively seeking employment. It is used to assess the health of the job market and the overall state of the economy. A high unemployment rate can indicate a weak economy, while a low unemployment rate can suggest a strong and growing economy. This data is closely monitored by policymakers, businesses, and investors to make informed decisions and projections.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 10.8 %, consensus 13.4 %. Prior reading (Oct 2025): 13 %. Before that (Jul 2025): 13.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.