Gauteng shines when it comes to job creation
Gauteng seems to be the silver lining around the South Africa's unemployment gloom.
Statistics South Africa has revealed that the unemployment rate in the third quarter of 2016 increased by 0.5 of a percentage point to 27.1% from the second quarter
However, the figures also show that Gauteng created the highest number of new jobs in the third quarter of the year.
Breaking down Gauteng's job creation performance from July to September:
Ekurhuleni leads with 61 000 new jobs followed by Tshwane with 39 000, representing 5,3% and 3,2% employment growth respectively.
The sectors that created the most jobs are the finance sector, then retail and wholesale sector, followed by transport and construction.
In total, just over 5 million Gauteng residents are currently employed.
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Trade Federation, COSATU reacted to the unemployment figures, saying they are concerned about the number of people without jobs that rose by 239 000 to 5.9 million.
"We are worried by the continuing investment strike by big business, especially after recent estimates show that cash held by all JSE companies is now close to R600 billion, and other estimates that in total SA corporations hold up to R1,3 trillion in deposits in South African banks and that this has increased since the 2008 financial crisis," COSATU said.
COSATU adds that they are not surprised by the details of the report.
"We have long argued that the unemployment problem in South Africa will not be addressed if the flawed structure of the South African economy is left intact," COSATU said in a statement.