SA Unemployment Rate Drops in Q3
Image by: Adobe Stock
According to Stats SA, the decrease is due to an increase of the number of people employed, which rose by 212 000 in the third quarter. This is the first time since 2019, that the unemployment rate has fallen below 32%.
Article by: Everything ZA News
14 November 2023
According to Statistics South Africa, the unemployment rate in South Africa in the third quarter of 2023 dropped to 31.9%, from 32.6% in the second quarter. This is the first time in over a year that the unemployment rate has fallen below 32%.
The decline in unemployment was driven by a gain in employment in the formal sector, particularly in the trade, manufacturing, and construction industries. However, the unemployment rate remains high, and many South Africans are still struggling to find work.
The government has welcomed the decline in unemployment, but it has also cautioned that more needs to be done to create jobs and reduce poverty. The government has pledged to invest in infrastructure, education, and skills development in an effort to create more jobs.
Here is a table showing the unemployment rate in South Africa by quarter over the past four years:
| Year | Quarter | Unemployment rate |
|---|---|---|
| 2020 | Q1 | 32.5% |
| 2020 | Q2 | 34.4% |
| 2020 | Q3 | 33.9% |
| 2020 | Q4 | 32.6% |
| 2021 | Q1 | 32.9% |
| 2021 | Q2 | 34.5% |
| 2021 | Q3 | 34.4% |
| 2021 | Q4 | 33.9% |
| 2022 | Q1 | 33.9% |
| 2022 | Q2 | 33.6% |
| 2022 | Q3 | 32.9% |
| 2022 | Q4 | 32.6% |
| 2023 | Q1 | 32.6% |
| 2023 | Q2 | 32.9% |
| 2023 | Q3 | 31.9% |
About The Author
