South Africa's recent unemployment rate has dropped

South Africa's recent unemployment rate has dropped by a percentage point from 33.9% in the third quarter to 32.9% in the latest. Statistics South Africa said that while the recent unemployment rate showed signs of recovery from the COVID-19 pandemic, the country remained among those with the highest unemployment rate in the world.

This change is after the unemployment rate hit a record high of 35.3% in the fourth quarter of 2021.

According to Dihlolelo Phoshoko, Director of Quarterly Labour Force Survey results shows that 204 000 jobs were gained between the second and third quarter of 2022.

The drop in unemployment is despite the Country currently experiencing the most severe rounds of power cuts in decades. Statistician-General Risenga Maluleke said that, despite severe power cuts between July and September, these are the industries that account for the bulk of the job gains in the third quarter this year.

However, 80,000 jobs were lost in finance, 36 000 jobs in private households i.e garden workers, while 1,000 were also lost in agrigulture and mining. The recent jobs data shows a steady recovery in employment, with over 800,000 more jobs recorded this year.

DA Western Cape Spokesperson on Finance, Economic Opportunities and Tourism Cayla Murray, MPP, stated that once again, the province has the lowest unemployment rate in the country at 24.5%, which is 8.4% less than the national rate. The province recorded a further 3% decline in unemployment during this period.

The industries in the Western Cape which saw the biggest increases in employment included:

• Manufacturing with over 44 000 jobs created;

• Construction with over 35 000 jobs created

• Transport with over 32 000 jobs created; and

• Agriculture with over 16 000 jobs created.

Despite the decrease in umeployment in the country, 7.7 million active job seekers remain without work, while 3.5 million are classified as discouraged job seekers and 5.9 million that are long-term unemployed.

Phoshoko said that Stats SA also stated that youth aged 15-24 and 25-34 recorded the highest unemployment rates in the three months between July and September.

by Everngelista Muza