NEWS
South Africa’s Unemployment Rate Hits 32.9%: What You Need to Know
Unemployment Rate Surges to 32.9% in Latest Stats SA Report
South Africa’s unemployment rate has surged to 32.9%, according to the latest Quarterly Labour Force Survey by Stats SA.
Despite a quarterly increase of 22,000 in employed persons to 16.7 million in Q1 2024, the number of unemployed individuals rose by 330,000 to 8.2 million over the same period.
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The latest report from Stats SA:
- Unemployment Rate: Now stands at 32.9%
- Employed Persons: 16.7 million in Q1 2024
- Unemployed Persons: Increased by 330,000 to 8.2 million
- Not Economically Active: Decreased by 214,000 to 13.1 million
- Discouraged Work-Seekers: Decreased slightly
- Official Unemployment Rate Increase: From 32.1% to 32.9% in Q1 2024
- Expanded Definition Unemployment Rate: Also increased to 41.9%
- Formal Sector Employment: Increased by 56,000
- Informal Sector Employment: Decreased by 100,000
- Industries with Employment Increases: Trade, Manufacturing, Private households, Transport, Agriculture, Mining
- Industries with Employment Losses: Community and social services, Construction, Finance, Utilities
- Provinces with Employment Gains: KwaZulu-Natal, Gauteng, Northern Cape
- Provinces with Employment Losses: All except Free State, largest drop in Western Cape
- Youth Unemployment: Increased to 45.5% in Q1 2024, with 4.9 million unemployed youth
