https://newsletter.en.creamermedia.com

SA's unemployment rate hits record 34.4%

Unemployed people standing in line

Photo by Reuters

24th August 2021

By: News24Wire

  

Font size: - +

Unemployment has hit a record high of 34.4%, or 7.8-million jobless people.

Stats SA released the Quarterly Labour Force Survey for the second quarter on Tuesday. This is the highest unemployment rate recorded since the survey started in 2008.

The unemployment rate was previously 32.6%.

The expanded definition of unemployment - which accounts for those discouraged from seeking work - has increased 1.2 percentage points to 44.4%. 

Last week, during a briefing on the economic outlook to the Parliament's Standing Committee on Finance, Reserve Bank Governor Lesetja Kganyago noted that the recovery in employment levels following the pandemic was lagging behind the GDP recovery - this after the economy suffered a -7% contraction in 2020 due to the Covid-19 pandemic and its associated lockdown.

Kganyago however pointed out that earnings had returned to pre-pandemic levels.

Edited by News24Wire

Comments

 

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.227 0.322s - 172pq - 2rq
Subscribe Now