Almost 8 million people now unemployed as jobless rate rises

The fourth-quarter unemployment rate rose by 0.2 of a percentage point to 32.1% from 31.9% in the third quarter, Statistics SA data shows. The increase in unemployment is yet another blow for the ANC ahead of a national election in which the party is expected to lose its majority.

The number of employed people dropped by 22 000 to 16.7 million in the fourth quarter and the number of unemployed persons increased by 46 000 to 7.9 million during the same quarter. Unemployment has ballooned in the past decade, from 4.8 million in the fourth quarter of 2013. The number of people who were not economically active for reasons other than discouragement increased by 218 000 to 13.

Formal sector employment fell by 128 000, while informal sector employment climbed by 124 000. The industries that contributed to the net employment decline included community and social services, construction, agriculture, trade and manufacturing. The industries that added jobs were finance, transport, mining and private households.

“The youth remain vulnerable in the labour market,” Stats SA said. The fourth quarter of 2023 results show that the total number of unemployed youth increased by 87 000 to 4.7 million while there was a decrease of 97 000 in the number of employed youth to 5.9 million. This resulted in an increase in the youth unemployment rate by 0.9 of a percentage point to 44.3%, it said.Who we choose to trust can have a profound impact on our lives.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Special Investigating Unit Uncovers Almost R700 Million in Debt Owed to NSFAS From InstitutionsThe Special Investigating Unit uncovered more than R688 million for the National Student Financial Aid Scheme from higher institutions of learning.
Source: brieflyza - 🏆 10. / 68 Read more »

‘Almost apocalyptic’ — Pringle Bay evacuated after another Western Cape infernoPringle Bay resident Hector Santos describes the intense fire season in the Western Cape and the evacuation of the village due to the fires.
Source: dailymaverick - 🏆 3. / 84 Read more »

The new animated Marvel X-Men series gets a streaming release dateX-Men '97 will continue the story of the original iconic series almost 30 years later and streams next month on Disney+.
Source: htxtafrica - 🏆 42. / 51 Read more »

Gauteng govt and VumaCam partnership welcomed as good move to fight crimeOn Tuesday, Gauteng Premier Panyaza Lesufi entered into an agreement with private company VumaCam to gain access to their almost 7,000 CCTV cameras across the province.
Source: ewnupdates - 🏆 30. / 53 Read more »

'You can't make special deals': Steenhuisen on Manny de Freitas expulsion from the DAManny de Freitas and DA leader John Steenhuisen had a political history dating back almost three decades before he was booted from the party.
Source: ewnreporter - 🏆 35. / 51 Read more »

Ghana Concedes Late Goals to Draw with MozambiqueGhana conceded twice in stoppage time to throw away a two-goal lead to draw with Mozambique and almost certainly exit the Africa Cup of Nations.
Source: BBCAfrica - 🏆 23. / 61 Read more »