South Africa unemployment rate rises to 2008 levels

South Africa unemployment rate rises to 2008 levels

South Africa’s unemployment rate increased by 0,1 of a percentage point to 29,1% in Q3 of 2019. This is the highest unemployment rate since Q1 of 2008.

“The results of the Quarterly Labour Force Survey (QLFS) for the third quarter of 2019 released by Statistics South Africa, indicate that the official unemployment rate increased by 0,1 of a percentage point to 29,1% compared to the second quarter of 2019,” Statistics South Africa announced on Tuesday.

“The number of employed persons increased by 62 000 and the number of unemployed persons increased by 78 000 to 6,7 million in Q3: 2019 compared to Q2: 2019, resulting in an increase of 141 000 in the labour force.

“The South African working-age population increased by 149 000 in Q3:2019 compared to Q2:2019.”

It further said that the results further indicate that the number of discouraged work-seekers increased by 44 000 while the number of those who are not active in the labour market for other reasons other than discouragement declined by 35 000 resulting in a net increase of 9 000 in the number of those who were not economically active.

 

South Africa unemployment rate

“Employment increased in three of the four sectors in Q3: 2019 with the formal sector recording the largest employment increase of 43 000 followed by Agriculture and Private households with 38 000 and 35 000 respectively,” Stats SA said.

“Employment in the informal sector, on the other hand, declined by 53 during this period. An increase of 62 000 in the number of people in employment in the third quarter of 2019 was mainly driven by Community and social services with 56 000, followed by Agriculture and Mining with 38 000 each and Private households with 35 000.

“Declines in employment were recorded in Manufacturing (30 000), Construction (24 000), Trade (21 000) and Utilities (18 000) in the third quarter of 2019 compared to the second quarter of the same year.

“There were approximately 10,3 million persons aged 15–24 years in Q3:2019. The share of these young people who were not in employment, education or training (NEET) remained constant at 32,3% (3,3 million) compared to Q2:2019. Of the 20,4 million young people aged 15-34 years, 40,4% were not in employment, education or training (NEET) – an increase of 0,1 of a percentage point compared to Q2:2019.”

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