South Africa’s Unemployment Rate Reaches 33.5% in Q2 2024

Unemployment Rate Increases by 0.6 Percentage Points

South Africa’s unemployment rate increased by 0.6 percentage points from 32.9% in Q1 2024 to 33.5% in Q2 2024, the government’s statistics office reported Tuesday.

Challenges in Job Creation

Africa’s most industrialized economy has struggled to create jobs in recent years due to a long recession and most recently the Covid-19 pandemic.

About 8.4 million people were out of work, up from 5.2 million in 2014.

Job Market Trends

The number of employed persons fell by 92,000 to 16.7 million in Q2 2024. The sectors which saw the most job decreases include trade, agriculture and construction.

Only manufacturing, social services and utilities added jobs.

Impact of May Elections

The figures are the first to be released since the May elections which brought in a coalition government which put reviving the ailing economy top of its agenda.

Unemployment was a key political issue in the vote, likely contributing to the loss of an absolute majority by the African National Congress (ANC).

Regional Trends

The statistics affice said that the most significant decrease in employment was observed in the Western Cape, Mpumalanga and KwaZulu-Natal provinces.

Conclusion

The recent unemployment figures in South Africa highlight the ongoing challenges in the job market. The coalition government will need to address these issues to revive the economy and improve employment opportunities.

FAQs

Q: What is the current unemployment rate in South Africa?

A: The current unemployment rate in South Africa is 33.5%.

Q: What is the main reason for the increase in unemployment?

A: The main reason for the increase in unemployment is the long recession and the Covid-19 pandemic.

Q: Which sectors saw the most job decreases?

A: The sectors which saw the most job decreases include trade, agriculture and construction.