The unemployment rate decreased to 31.9-percent

VAAL TRIANGLE - South Africa’s official unemployment rate was 31.9% in the third quarter. This is 0,7 of a percentage point lower than the rate of 32.6% in the second quarter. The Quarterly Labour Force Survey indicates that the number of employed people increased by 399,000 to 16.7-million in the third quarter. The number of unemployed people decreased by 72,000 to 7.8-million. Finance, community and social services, and agriculture recorded the largest employment gains while employment losses were recorded in manufacturing, mining, transport and ttilities. KwaZulu-Natal, Limpopo, North-West and Mpumalanga recorded the largest employment increases.

Meanwhile, Union federation Cosatu welcomes a decrease in the unemployment rate, with 399,000 new jobs providing relief for workers and families. Despite these gains, the federation calls for government intervention to address challenges in key sectors, such as load-shedding and Transnet. Cosatu’s Matthew Parks says the looming threat of mine worker retrenchments requires the urgency for government and business intervention to secure industries and rebuild critical infrastructure.

The latest Statistic South Africa’s Quarterly Labour Force survey shows Cape Town has added 205,000 new jobs over the last year, more than all other metros combined. The metro’s unemployment rate fell by 3.8% year-on-year. Mayor Geordin Hill-Lewis says Cape Town’s economy is showing resilience, with employment levels above pre-Covid levels for three consecutive quarters: PHOTO: (Supplied)