{"id":647193,"date":"2022-11-29T11:47:21","date_gmt":"2022-11-29T09:47:21","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=647193"},"modified":"2022-11-29T11:47:21","modified_gmt":"2022-11-29T09:47:21","slug":"good-news-for-south-africas-unemployment-rate-2","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/647193\/good-news-for-south-africas-unemployment-rate-2\/","title":{"rendered":"Good news for South Africa’s unemployment rate"},"content":{"rendered":"

Statistics South Africa has published the results of the Quarterly Labour Force Survey (QLFS) for the third quarter of 2022.<\/p>\n

The data shows that the country gained 204,000 between the second and third quarters of 2022, with the total number of persons employed up 1.3% to 15.8 million people.<\/p>\n

The official unemployment rate decreased by 1.0 percentage points from 33.9% in the second quarter of 2022 to 32.9% in the third quarter of 2022. The unemployment rate, according to the expanded definition of unemployment, also decreased by 1.0 percentage points to 43.1%.<\/p>\n

To better understand the observed large changes in the key labour market indicators between Q2: 2022 and Q3: 2022, Stats SA said that special tabulations were done to study movements between labour market statuses.<\/p>\n

“It was observed that a large number of persons moved from the ‘unemployed’ category to the ’employed’ and ‘not economically active’ statuses between the two quarters, which resulted in a decrease in the unemployment rate,” the stats body said.<\/p>\n

However, it noted that the labour force participation rate in Q3: 2022 was lower than that reported in Q2: 2022 as a result of these movements \u2013 decreasing by 0.3 of a percentage point to 58.3%.<\/p>\n

The absorption rate increased by 0.4 of a percentage point to 39.1% in the third quarter of 2022 compared to the second quarter of 2022.<\/p>\n

\"\"<\/p>\n

The number of unemployed persons decreased by 269,000 to 7.7 million, and discouraged work-seekers also decreased by 54,000 to 3.5 million in the third quarter.<\/p>\n

\"\"<\/p>\n

According to Stats SA, the number of people who were not economically active for reasons other than discouragement increased by 264,000 between the two quarters, however, resulting in a net increase of 210,000 in the not economically active population.<\/p>\n

This was driven mainly by an influx of students, Stats SA said.<\/p>\n

\"\"<\/p>\n

Job growth was recorded in Manufacturing (123,000), Trade (82,000), Construction (46,000) and Transport (33,000), which saw the most significant job gains.<\/p>\n

Meanwhile, job losses were recorded in Finance (-80,000), Private households (-36,000) and Mining and Agriculture (-1,000) each.<\/p>\n

Provincially,\u00a0the number of employed persons increased in six provinces between Q2: 2022 and Q3: 2022.<\/p>\n

The largest employment increases were recorded in Gauteng (136,000), Western Cape (85,000), KwaZulu-Natal (57,000) and Mpumalanga (32,000).<\/p>\n

Employment losses were recorded in North West (-66,000), Limpopo (-55,000) and Free State (-9,000) during the same period.<\/p>\n

North West recorded the biggest quarter-to-quarter change in employment with a decrease of 7.1%.<\/p>\n

\"\"<\/p>\n

\n

Read: Government considering new \u2018job seeking\u2019 grant for South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa’s unemployment rate recovered in the third quarter of the year.<\/p>\n","protected":false},"author":10,"featured_media":647205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[26],"class_list":["post-647193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/647193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=647193"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/647193\/revisions"}],"predecessor-version":[{"id":647207,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/647193\/revisions\/647207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/647205"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=647193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=647193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=647193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}