The Statistics of Unemployment in South Africa
What is the rate of unemployment in South Africa 2022?
Statistics South Africa (Stats SA) has, today (23 August 2022), issued the results of the Quarterly Labour Force Survey (QLFS) for Q2: 2022. These results indicate that 648 000 jobs were gained between the first quarter of 2022 and the second quarter of 2022. The number of unemployed persons increased by 132 000 to 8,0 million in the second quarter of 2022 compared to the previous quarter. The number of discouraged work-seekers decreased by 183 000 (4,9%) and the number of people who were not economically active for reasons other than discouragement decreased by 452 000 (3,3%) between the two quarters resulting in a net decrease of 635 000 in the not economically active population.
The above changes in employment and unemployment resulted in the official unemployment rate decreasing by 0,6 of a percentage point from 34,5% in the first quarter of 2022 to 33,9% in the second quarter of 2022 – The unemployment rate according to the expanded definition of unemployment also decreased by 1,4 percentage.
What are the 5 causes of unemployment?
The term unemployment refers to a situation where a person actively searches for employment but is unable to find work. Unemployment is considered to be a key measure of the health of the economy.
There are a number of reasons for unemployment. These include recessions, depressions, technological improvements, job outsourcing, and voluntarily leaving one job to find another.
What are the trends in unemployment in South Africa?
According to data from financial services firm PwC expects that by 2030 South Africa’s unemployment rate will be sitting at 40%. Also, this is due to a faster growth rate in the labour force, with economic growth and job creation unable to keep up.
