1 week ago
8 ARTICLE AD
South Africa’s unemployment rate decreased for the first time this year, dropping to 32.1 per cent in the third quarter, down from 33.5 per cent in the previous quarter, the country’s official statistics agency reported on Tuesday.
Africa’s largest and most industrialised economy has for years struggled with high unemployment, with women and youth being disproportionately affected.
The number of employed people increased by 294,000 during the quarter, according to Statistics South Africa’s Quarterly Labour Force Survey, while the number of unemployed individuals decreased by 373,000.
Jobs were added in the community and social services sector, as well as in construction, trade, mining, and transport.
This marks the first decrease in joblessness since the third quarter of 2023, when the country’s unemployment rate stood at 31.9 per cent.
Youth unemployment remains particularly high, although it decreased from 46.6 per cent in the second quarter of 2024 to 45.5 per cent in the third quarter.
South Africa’s economy faces structural challenges and weak growth, according to the World Bank. This limits the government’s ability to address inequality—among the highest in the world—and poverty, which affects more than 60 per cent of the population.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
