Fin24 reports that the official unemployment rate increased by 0.2 of a percentage point to 32.9% in the first quarter of 2023, from the fourth quarter of last year.
However, this was due to a large number of people who classified themselves as "not economically active" in the fourth quarter, who instead categorised themselves as "unemployed" in the first quarter of 2023. Statistics SA indicated: "It was observed that a large number of persons moved from the 'not economically active' category to 'employed' and 'unemployed' statuses between the two quarters, which resulted in an increase of 0.2 of a percentage point in the unemployment rate to 32.9%." This largely resulted in the number of unemployed people increasing by 179,000 to 7.9 million, the Quarterly Labour Force Survey (QLFS) showed. But the number of employed persons increased by 258,000 to 16.2 million in the first quarter of 2023 compared to the fourth quarter of 2022. And the unemployment rate, according to the expanded definition – which includes people who were available for work but not looking for a job – decreased by 0.2 of a percentage point to 42.4%. Both the formal and informal sectors recorded increases in employment of 209,000 and 107,000, respectively. Finance, community and social services, and agriculture created the most jobs. But there were fewer positions in private households as well as small decreases in trade, mining, construction and manufacturing.
- Read the full original of the report in the above regard compiled by Helena Wasserman at Fin24
- Read too, SA unemployment rate rises for first time in over a year, at Moneyweb
- And also, Joblessness rate rises as SA bends under burden of power cuts, at BusinessLive (subscriber access only)
Get other news reports at the SA Labour News home page