WAEMU Unemployment Falls to 11.6% as Urban Job Market Strengthens
TLDR
- West Africa’s WAEMU region posted stronger labor market figures in Q4 2024 as employment rebounded in urban areas
- The employment rate rose to 53.8%, up from 51.3% in the previous quarter, marking a 2.5 percentage point increase
- The drop was more pronounced for women, whose jobless rate fell by 2.8 points to 14.6%, compared to a 1.2-point drop for men.
West Africa’s WAEMU region posted stronger labor market figures in Q4 2024 as employment rebounded in urban areas, according to new data from the Central Bank of West African States (BCEAO). The employment rate rose to 53.8%, up from 51.3% in the previous quarter, marking a 2.5 percentage point increase.
Meanwhile, the unemployment rate declined from 13.7% to 11.6%, as more working-age individuals secured jobs in both formal and informal sectors across the union’s eight member states. The drop was more pronounced for women, whose jobless rate fell by 2.8 points to 14.6%, compared to a 1.2-point drop for men.
Youth unemployment also declined significantly, with the rate for 15–24 year-olds falling 6.6 points to 20.6%, suggesting seasonal job recovery and targeted policy impact. However, rural unemployment remains underreported in the data, which is limited to urban centers.
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Key Takeaways
WAEMU’s labor market improvements come amid a projected GDP growth rate of 6.2% in 2024. The job recovery in cities reflects growth in consumer services, construction, and informal retail. However, these figures mask wide disparities. Rural areas, which face structural underemployment and fewer job creation programs, remain underrepresented in the official data. The trend of higher female and youth unemployment also persists, though the Q4 data offers some signs of narrowing gaps. Among 25–34 year-olds, unemployment fell 3.2 points to 16.3%, while the 35–64 age group showed more stable employment patterns. The data underscores the need for more inclusive labor reforms, especially outside metropolitan zones. Better tracking of rural employment metrics and investment in decentralized job creation remain critical to sustaining broad-based growth across WAEMU.
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