Statistics South Africa recently reported a rise in the country’s unemployment rate from 32.1% in the last quarter of 2023 to 32.9% in the first quarter of 2024. This increase of 0.8% was announced ahead of the upcoming general election on May 29.
The director of labour statistics, Dihlolelo Phoshoko, highlighted that certain provinces experienced varying changes in unemployment.
Provinces such as KZN, Gauteng, and Northern Cape recorded increases, while others like the Western Cape, North West, Mpumalanga, Eastern Cape, and Limpopo saw decreases in employment.
The youth unemployment rate also saw a significant rise, with the number of unemployed youth increasing by 236,000 to 4.9 million, resulting in a 1.3% increase to 45.5% in the first quarter of 2024.
Furthermore, formal sector employment saw an increase of 56,000 in the first quarter, whereas informal sector employment decreased by 100,000 over the same period. These shifts in sector employment indicate a complex and evolving economic landscape.
