SA's unemployment rate drops to pre-Covid levels

The Stats SA data shows that the number of employed persons increased by 399,000 to 16,7 million, surpassing the pre-Covid level of 16,4 million.

According to the stats, the number of unemployed persons decreased by 72 000 to 7,8 million during the same quarter.

 Statistician-General, Risenga Maluleke said the number of people who were not economically active for reasons other than discouragement decreased by 160,000 to 13,1 million.

This while the number of discouraged work-seekers decreased by 26,000 in the third quarter compared to the second quarter of 2023. 

"This resulted in a net decrease of 186,000 in the not economically active population.

The above changes in employment and unemployment resulted in the official unemployment rate decreasing by 0,7 of a percentage point from 32,6% in the second quarter of 2023 to 31,9% in the third quarter of 2023. 

“The unemployment rate, according to the expanded definition, decreased by 0,9 of a percentage point to 41,2% in the third quarter of 2023 compared to quarter two of 2023," said Maluleke.

 He said the formal sector employment increased by 287,000 in the third quarter.

"The following industries, finance (up by 237 000), community and social services (up by 119 000) and agriculture (up by 61 000) recorded the largest employment gains.

“Employment losses were recorded in manufacturing (down by 50 000), mining (down by 35 000), transport (down by 20 000) and utilities (down by 16 000).”

 Maluleke said while the youth remain vulnerable in the labour market,  the third quarter of 2023 results show that the total number of unemployed youth decreased by 174,000 to 4,6 million, while there was an increase of 237,000 in the number of employed youth to six million. 

"This resulted in a decrease in the youth unemployment rate by 1,9 percentage points from 45,3% in Q2:2023 to 43,4% in Q3:2023.”

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