THE unemployment rate in South Africa recorded a slight decrease in the third quarter, and currently sits at 32.9%.
This is according to Statistics SA (StatsSA) which released its Quarterly Labour Force Survey (QLFS) on Tuesday, showing a 1% decrease, from 33.9% in the second quarter.
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The rate was at 34.5% in the first quarter of 2022.
“The total number of persons employed was 15.8 million in the third quarter of 2022. “The number of unemployed persons decreased by 269 000 to 7.7 million, and discouraged workseekers decreased by 54 000, to 3.5 million in the third quarter compared to the previous quarter,” said statistician-general Risenga Maluleke.
According to the latest figures, manufacturing, trade, construction and transport recorded the largest job gains, while job losses were recorded in finance, private households, as well as mining and agriculture.
Commenting on the GDP growth earlier this year, local economist Dr Brian Mazorodze said manufacturing, which recorded the highest job gains with 123 000 in this quarter, is a high productivity sector and is labour intensive.
“It is capable of absorbing skilled and semi-skilled labour which is encouraging given the prevailing high and unwelcoming unemployment rate,” he said. While the current figures look positive, the picture continues to be bleak for the youth who ‘remain vulnerable in the labour market with an unemployment rate of 45.5%’.
The total number of unemployed youth decreased by 182 000 to 4.6 million in this quarter, with an increase of 25 000 in the number of employed youth during the same period.
“The increase in employment and the decrease in unemployment among the youth resulted in a decrease in the youth unemployment rate by 1.0 percentage point,” said Maluleke.
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