South Africa’s unemployment rate drops

Statistics South Africa says the official unemployment rate dropped 31.9 per cent in the fourth quarter. According to Stats SA, there was an increase of 132 000 in the number of employed persons to 17,1 million in the fourth quarter.

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There was a decrease of 20 000 in the number of unemployed persons to 8,0 million. This resulted in an increase of 112 000 (up by 0,4%) in the labour force during the same period.

Discouraged work-seekers increased by 111 000 (up by 3,3%), and the number of persons who were not economically active for reasons other than discouragement decreased by 93 000 (down by 0,7%) between the third quarter and fourth quarter of 2024. This led to an increase of 18 000 in the number of the not economically active population to 16,5 million.

UNEMPLOYMENT RATE DROPPED IN SOUTH AFRICA IN THE FOURTH QUARTER

The above changes in employment and unemployment resulted in the official unemployment rate decreasing by 0,2 of a percentage point from 32,1% in the third quarter of 2024 to 31,9% in the fourth quarter of 2024. The expanded unemployment rate in the fourth quarter of 2024 remained unchanged at 41,9% when compared with the third quarter of 2024.

More to follow…