South Africa continues to grapple with high unemployment. The official unemployment rate decreased to 31.9% in the third quarter, down from 32.6% in the second quarter.
Statistics South Africa says unemployment decreased by 0.7% in the third quarter of this year. It says the number of people employed in this quarter increased to 16.7 million.
Most of the jobs were created in the formal sector in the third quarter, while the informal sector also created some employment. The industries that recorded the largest employment over this period were in finance, community and social services, and agriculture.
While employment losses were recorded in manufacturing, mining, transport, and utilities. Stats SA says the youth remains vulnerable in the labor market. However, the third-quarter results show that the total number of unemployed youth between the ages of 15-34 years decreased.
This resulted in a decrease in the youth unemployment rate by 1.9 percentage points from 45.3% in the second quarter to 43.4% in the third quarter.
Q3:2023 increase in #employment is the 2nd-largest since Q4:2021. Tune in to @Radio702 at 12h35 as I discuss the findings of the Quarterly Labour Force Survey for Q3:2023.
More here: https://t.co/5fP3GkVnFt#StatsSA pic.twitter.com/6ya4qxcq7C— Statistician-General Risenga Maluleke (@SGMaluleke) November 14, 2023
[ 🧵]The official #unemployment rate for Q3:2023 stands at 31,9 %, a decrease of 0,7 of a percentage point compared to Q2:2023.
#StatsSA #QLFS pic.twitter.com/b2cKnKnoNp— Stats SA (@StatsSA) November 14, 2023
The #unemployment rate among the Black African (36,0%) population group remains higher than the national average and other population groups.
Read more here: https://t.co/qRqjYjwsAy#StatsSA pic.twitter.com/hXJWtX8STU
— Stats SA (@StatsSA) November 14, 2023
Black African #unemployment rates have been consistently higher than other population groups over the past 10-year period.
Read more here: https://t.co/qRqjYjwsAy#StatsSA pic.twitter.com/SsrN0Wkq8B
— Stats SA (@StatsSA) November 14, 2023
The overall NEET rate (15 – 24yrs) decreased by 1,8 percentage points in Q3:2023 compared to Q3:2022.
Read more here: https://t.co/qRqjYjwsAy#StatsSA #unemployment pic.twitter.com/ckuKEDbNpJ
— Stats SA (@StatsSA) November 14, 2023
