Unemployment rate rises to 32.9% in the first quarter
Stats SA says the number of jobless increased by 330,000 to 8.2-million during the first quarter of 2024
14 May 2024 - 22:56
byKhulekani Magubane
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Stats SA has announced that the official unemployment rate grew from 32.1% to 32.9% in the first quarter of 2024, with the unemployment rate according to the expanded definition increasing by 0.8 of a percentage point to 41.9% in the first quarter of 2024.
"The results of the Quarterly Labour Force Survey indicate that the number of employed persons increased by 22,000 to 16.7-million in the first quarter of 2024 compared to the fourth quarter of 2023," the Quarterly Labour Force Survey released on Tuesday said.
It said while the number of employed people increased by about 22,000 since the fourth quarter of 2023, unemployed people increased by 330,000 to 8.2-million during the first quarter of 2024.
Discouraged jobseekers decreased by 1,000 in the first quarter of 2024 compared to the fourth quarter of 2023. This resulted in a net decrease of 215,000 in the not economically active population.
"The above changes in employment and unemployment resulted in the official unemployment rate increasing by 0.8 of a percentage point from 32.1% in the fourth quarter of 2023 to 32.9% in the first quarter of 2024."
The survey said the largest increases in employment were recorded in trade, where jobs went up to 109,000; followed by manufacturing, which employed 99,000; private households, where 44,000 people had jobs; and transport, which accounted for 39,000 jobs.
Decreases in employment were recorded in: community and social services, which had 122,000 jobs; construction, where there were 106,000; finance, which had 50,000; and utilities, which accounted for 17,000.
The survey said the first quarter of 2024 compared favourably with the first quarter of 2023.
"Compared to the same period last year, a net increase of 552,000 in total employment in quarter one of 2024 was largely due to increases in the number of people employed in finance, trade and private households industries. The industries that recorded decreases were community and social services, manufacturing and utilities."
Provinces where the number of employed people increased include KwaZulu-Natal, Gauteng and the Northern Cape. Employment decreases were recorded in the Western Cape, the North West, Mpumalanga, the Eastern Cape and Limpopo. Jobs in the Free State remained unchanged.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Unemployment rate rises to 32.9% in the first quarter
Stats SA says the number of jobless increased by 330,000 to 8.2-million during the first quarter of 2024
Stats SA has announced that the official unemployment rate grew from 32.1% to 32.9% in the first quarter of 2024, with the unemployment rate according to the expanded definition increasing by 0.8 of a percentage point to 41.9% in the first quarter of 2024.
"The results of the Quarterly Labour Force Survey indicate that the number of employed persons increased by 22,000 to 16.7-million in the first quarter of 2024 compared to the fourth quarter of 2023," the Quarterly Labour Force Survey released on Tuesday said.
It said while the number of employed people increased by about 22,000 since the fourth quarter of 2023, unemployed people increased by 330,000 to 8.2-million during the first quarter of 2024.
Discouraged jobseekers decreased by 1,000 in the first quarter of 2024 compared to the fourth quarter of 2023. This resulted in a net decrease of 215,000 in the not economically active population.
"The above changes in employment and unemployment resulted in the official unemployment rate increasing by 0.8 of a percentage point from 32.1% in the fourth quarter of 2023 to 32.9% in the first quarter of 2024."
The survey said the largest increases in employment were recorded in trade, where jobs went up to 109,000; followed by manufacturing, which employed 99,000; private households, where 44,000 people had jobs; and transport, which accounted for 39,000 jobs.
Decreases in employment were recorded in: community and social services, which had 122,000 jobs; construction, where there were 106,000; finance, which had 50,000; and utilities, which accounted for 17,000.
The survey said the first quarter of 2024 compared favourably with the first quarter of 2023.
"Compared to the same period last year, a net increase of 552,000 in total employment in quarter one of 2024 was largely due to increases in the number of people employed in finance, trade and private households industries. The industries that recorded decreases were community and social services, manufacturing and utilities."
Provinces where the number of employed people increased include KwaZulu-Natal, Gauteng and the Northern Cape. Employment decreases were recorded in the Western Cape, the North West, Mpumalanga, the Eastern Cape and Limpopo. Jobs in the Free State remained unchanged.
Business Times
Bad news for ANC as unemployment rate jumps to 32.9%
WATCH: Unemployment rises to 32.9% in first quarter
Ramaphosa tells business: avoid the danger zone and vote ANC
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.