https://en.sputniknews.africa/20241113/south-african-labor-market-sees-improvement-though-youth-unemployment-remains-concern-1069218414.html
South African Labor Market Sees Improvement, Though Youth Unemployment Remains Concern
South African Labor Market Sees Improvement, Though Youth Unemployment Remains Concern
Sputnik Africa
The Quarterly Labor Force Survey (QLFS) is a household-based sampling survey carried out by Statistics South Africa. It gathers information on the employment... 13.11.2024, Sputnik Africa
2024-11-13T17:56+0100
2024-11-13T17:56+0100
2024-11-14T10:02+0100
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South Africa's official unemployment rate fell to 32.1% in Q3 2024, down from 33.5% in Q2, according to the Quarterly Labor Force Survey. This was due to an increase of 294,000 employed individuals, bringing the total to 16.9 million.While encouraging, the number of discouraged work-seekers rose by 160,000, and the expanded unemployment rate (including these individuals) decreased to 41.9%. This indicates a complex picture of the labor market, where some find employment while others become discouraged.Employment rose in both formal and informal sectors, with 122,000 and 165,000 new jobs, respectively. Community, construction, and trade sectors saw significant growth, while finance, private households, manufacturing, and transport experienced job losses. Eastern Cape, Western Cape, North West, and Mpumalanga led in job gains, while Gauteng saw a 66,000 decrease and Kwa-Zulu Natal a small decline.Despite positive labor market trends, youth unemployment remains high. While the number of unemployed youth decreased by 171,000, that of employed youth increased by 66,000, the youth unemployment rate still dropped only slightly, from 46.6% to 45.5%. This shows that young people aged 15-34 remain particularly vulnerable in the job market.
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economy, statistics, labor, employment, unemployment, youth, southern africa, south africa, transportation, finance, africa
economy, statistics, labor, employment, unemployment, youth, southern africa, south africa, transportation, finance, africa
South African Labor Market Sees Improvement, Though Youth Unemployment Remains Concern
17:56 13.11.2024 (Updated: 10:02 14.11.2024) Ekaterina Shilova
Writer / Editor
The Quarterly Labor Force Survey (QLFS) is a household-based sampling survey carried out by Statistics South Africa. It gathers information on the employment activities of individuals aged 15 and older residing in South Africa.
South Africa's official unemployment rate fell to 32.1% in Q3 2024, down from 33.5% in Q2, according to the Quarterly Labor Force Survey. This was due to an increase of 294,000 employed individuals, bringing the total to 16.9 million.
While encouraging, the number of discouraged work-seekers rose by 160,000, and the expanded unemployment rate (including these individuals) decreased to 41.9%. This indicates a complex picture of the labor market, where some find employment while others become discouraged.
Employment rose in both formal and informal sectors, with 122,000 and 165,000 new jobs, respectively. Community, construction, and trade sectors saw significant growth, while finance, private households, manufacturing, and transport experienced job losses. Eastern Cape, Western Cape, North West, and Mpumalanga led in job gains, while Gauteng saw a 66,000 decrease and Kwa-Zulu Natal a small decline.
Despite positive labor market trends, youth unemployment remains high. While the number of unemployed youth decreased by 171,000, that of employed youth increased by 66,000, the
youth unemployment rate still dropped only slightly, from 46.6% to 45.5%. This shows that young people aged 15-34 remain particularly vulnerable in the job market.
