The latest unemployment rate came in better than expected at 32.9% for the third quarter on Tuesday, dropping for the third time in a row, but still remains above pre-pandemic levels and unsustainably high. Employment increased in manufacturing, trade, construction, transport and community and social services, but jobs were lost in the finance, private household, mining and agricultural industries, according to Statistics SA’s latest Quarterly Labour Force Survey .
The economic research group Oxford Economics Africa says although South Africa’s unemployment rate is decreasing, it still has to reach pre-pandemic levels of about 30%, after peaking at 35.3% in the fourth quarter of 2021. “The latest jobs report offers some good news but does not detract from South Africa’s sky-high unemployment rate. The unemployment rate has consistently remained above 20% for more than two decades now,” the group says.
He also noted that the expanded definition of unemployment, including people who stopped looking for work, fell to 43.1% in the third quarter, down from 44.1% in the previous quarter. “The decrease in unemployment is a positive development, given the current tough economic backdrop.”What can be done about unemployment?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Unemployment stats: Good news as more than 200 000 jobs gained in SA | The Citizen🥳Hooray for SA! Unemployment decreased by 1% in latest stats, with over 200 000 jobs gained 💸 Catch up on the latest stats here: StatsSA EmploymentStats This is due to the country opening more since covid
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Unathi Nkayi seemingly reacts to Sizwe Dhlomo’s latest Kaya FM dispute | The CitizenUnathi Nkayi seemingly throws shade 🕶️ at Kaya FM show host Sizwe Dhlomo who was caught in yet another dispute at the radio station 📻 Check what she posted: Unathi SizweDhlomo Its a private station so they can go ... er, behave as they want 🤔
Source: TheCitizen_News - 🏆 6. / 75 Read more »
The best and the worst: 10 highlights of the Springboks' 2022 season | The CitizenAfter a year of ups and downs for the Springboks, the 2022 season came to a close on a high with an emphatic win over England at Twickenham on Saturday evening.🏈
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Inside Lalela Mswane’s Vietnam trip | The CitizenMissSupranational Lalela Mswane is currently in Vietnam and the pageant queen touched down to quite the hero’s welcome in the Southeast Asian country known for its beaches, rivers, Buddhist pagodas and bustling cities.👑
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Basic food basket gets even pricier, will hit poor households hardest | The CitizenLife is still bad for poor households with food basket prices increasing every month, forcing mothers to forego buying nutritious food.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Lighter, more powerful Audi RS6 and RS7 Performance revealed | The CitizenWith an all-electric future looming, Audi has unveiled the most powerful iterations of the RS6 Avant and RS7 Sportback to date in the guise of the upgraded Performance models. 🚗motoring
Source: TheCitizen_News - 🏆 6. / 75 Read more »