South Africa’s official unemployment rate dropped by 1.4% points, from 33.5% in the second quarter to 32.1% in the third quarter of 2024.
According to Statistics SA’s Quarterly Labour Force Survey, this decrease follows a rise of 294,000 employed individuals and a drop of 373,000 unemployed persons.
However, the non-economically active population also rose, reaching 16.5 million, while the expanded unemployment rate, which includes those who have stopped looking for work, dropped by 0.7% points to 41.9%.
Speaking on VOC Breakfast, Economist Ulrich Joubert described the quarterly improvement as promising, though year-on-year figures show a rise in unemployment.
“We must keep in mind this is a household survey, capturing data for those aged 15-65, and does not consider older age groups who may still be employed,” he explained.
“Overall, we’ve seen growth in several economic sectors. However, sectors such as private households, manufacturing, transport, and finance saw declines.”
Provincially, the largest employment gains were recorded in:
– Eastern Cape (+83,000 jobs)
– Western Cape (+75,000 jobs)
– North West (+69,000 jobs)
– Mpumalanga (+49,000 jobs)
In contrast, Gauteng and KwaZulu-Natal faced job losses, shedding 66,000 and 2,000 jobs, respectively.
For more insights, listen to the full interview below:
VOC News
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