JOHANNESBURG, Nov. 12 (Xinhua) -- South Africa's official unemployment rate decreased by 1.4 percentage points in the third quarter of 2024 on a quarter-on-quarter basis, Statistics South Africa (Stats SA) said on Tuesday.
According to the Quarterly Labor Force Survey for the third quarter, released by Stats SA on Tuesday, the country's official unemployment rate declined from 33.5 percent in the second quarter of 2024 to 32.1 percent in the third quarter. Meanwhile, the expanded unemployment rate in the third quarter decreased by 0.7 percentage point to 41.9 percent when compared with the second quarter of 2024.
South Africa's Statistician-General Risenga Maluleke reported an increase of 294,000 in employed persons, bringing the total to 16.9 million in the third quarter.
"The youth 15 to 34 years remain vulnerable in the labor market. The third quarter of 2024 results show that the total number of unemployed youth decreased by 171,000 to 4.8 million, while employed youth recorded an increase of 66,000 to 5.8 million," Maluleke said. "As a result, youth unemployment rate decreased from 46.6 percent in the second quarter of 2024 to 45.5 percent in the third quarter."
Maluleke further said that the number of people employed in the formal sector increased by 122,000 in the third quarter while employment in the informal sector rose by 165,000 over the same period.
He added that the largest employment gains were in sectors such as community and social services, which created 194,000 jobs, followed by construction with 176,000 and trade with nearly 110,000. However, some key sectors experienced declines, with finance losing 189,000 jobs, private households decreasing by 32,000, manufacturing by 20,000, and transport by 18,000.
Data also showed that the Eastern Cape Province recorded the highest job gains with 83,000, followed by Western Cape with 75,000, North West with 69,000, and Mpumalanga with 49,000. South Africa's economic hub, Gauteng Province, recorded a loss of 66,000 jobs, while KwaZulu-Natal saw a decrease of 2,000.
Reacting to the release of the figures, Deputy Minister in the Presidency Nonceba Mhlauli expressed her approval of the improvement in job creation. "This marks a significant step forward for our economy. The decline in the unemployment rate is a testament to the hard work and dedication of our government working with all relevant stakeholders," she said.
