Unemployment rises further
Unemployment has soared to 27.5 % in the third quarter of
2018.
According to the latest data from Statistics SA, it's 0.3 % higher than the 27.2 % in the second quarter of the year.
Put into perspective, it means that 6.2 million people out of a working class of 38 million, are not employed.
A further 15.4 million are also not economically active.
The #unemployment rate for those aged 25-34 is 52,8%, double that of the 45-54 year olds. #Youth unemployment rate is higher than other age groups irrespective of education level #StatsSA https://t.co/cUVPXbdCr6 pic.twitter.com/ABjZJclB17
— Stats SA (@StatsSA) October 30, 2018
Approximately 3,2 million (31,1%) out of 10,3 million young people aged 15-24 years were not in employment, education or training (NEET). The overall NEET rate increased by 0,8 of a percentage point in Q3:2018 compared to Q3:2017 https://t.co/lzTQPwYxEU pic.twitter.com/dmJLG5OnOp
— Stats SA (@StatsSA) October 30, 2018
Private households (30 000), #Mining (29 000), and #Manufacturing (25 000) industries recorded the biggest loss in #employment in Q3:2018 #StatsSA https://t.co/cUVPXbdCr6 pic.twitter.com/eTdh8MUy1R
— Stats SA (@StatsSA) October 30, 2018
Five out of nine provinces showed decreases in their unemployment rate between Q2:2018 & Q3:2018 (MP, GP, NC, WC AND LP) https://t.co/cUVPXbdCr6 pic.twitter.com/XqcT2Jvcru
— Stats SA (@StatsSA) October 30, 2018
The statistics show that 6.4 million people did have employment in the three months leading to the end of September.
Close to a third (29,3%) of all people employed in Q3:2018 were employed in elementary and domestic work occupations https://t.co/cUVPXbdCr6 pic.twitter.com/V4fK85C9I1
— Stats SA (@StatsSA) October 30, 2018
Finance (102 000), Trade (86 000) and Construction (27 000) industries recorded growth in employment https://t.co/cUVPXbdCr6 pic.twitter.com/MJhrQa2KvA
— Stats SA (@StatsSA) October 30, 2018
The release of the figures follows just over three weeks after the Job Summit was held to try and find solutions for unemployment and create much needed job opportunities in the embattled economy.
President Cyril Ramaphosa led the government delegation to the two day summit that brought together all NEDLAC constituencies comprising government, organized labour, business and organized community.