South Africa's official unemployment rate dips in third quarter
South Africa's unemployment rate fell slightly in the third quarter of this year, as jobs were added in construction, social services and trade, the statistics agency said on Tuesday.
The official jobless rate stood at 31.9% in July-September, down from 33.2% in April-June.
Unemployment rose above 30% five years ago during the Covid-19 pandemic and has been stuck there since, despite repeated government initiatives to try to boost job creation.
Six of the 10 industries tracked by Statistics South Africa recorded employment gains in the third quarter, while four saw decreases.
The most jobs were added in construction (130 000 jobs), community and social services (116 000) and trade (108 000).
Stats SA said it had updated its methodology in line with International Labour Organization guidelines.
Statistics official Solly Molayi said the new methodology had contributed to the job gains in construction, as it meant more informal jobs had been captured.
Another official noted unemployment had tended to fall in the third quarter in recent years.
Africa's biggest economy picked up pace in the second quarter, though growth remains sluggish.
Electricity supply has improved and logistics bottlenecks eased, but weak domestic demand means firms have held back on investing.
Gina Schoeman, Citi's South Africa economist, said investment as a share of gross domestic product would need to rise from 14% to around 16% to achieve a meaningful dent in unemployment.
"To get to job numbers doing better, you first need to invest in actual capital expenditure and expand your business," she said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Smart energy storage solutions for efficient, safe, and profitable power.
VISIT SHOWROOM
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
