The expanded definition of the unemployment rate also dropped by 0.3 of a percentage point from 42.4% to 42.1% in Q2 2023. <\/p>\n\n\n
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<\/a><\/figure><\/div>\n\n\nIndustry performance<\/strong> <\/p>\n\n\n\n Stats SA said that formal sector employment increased by 143,000 in Q2 2023; however, informal sector employment dropped by 33,000 over the same period. <\/p>\n\n\n\n Overall, five of the nine sectors looked at by Stats SA saw employment increases. <\/p>\n\n\n\n Construction (104,000), Trade (92,000), and Community and Social Services (63,000) saw the most significant gains in employment. <\/p>\n\n\n\n On the other hand, Manufacturing (96,000), Finance (68,000), Transport (7,000) and Utilities (6,000) saw the biggest declines. <\/p>\n\n\n Provincial performance <\/strong><\/p>\n\n\n\n Provincially, seven provinces saw improvements in their employment numbers. <\/p>\n\n\n\n Limpopo, the Western Cape (up by 54,000) and KwaZulu-Natal (up by 48,000) saw the biggest increase in employment numbers. <\/p>\n\n\n\n Decreases were, however, noted in the Free State (down by 59,000) and Northern Cape (down by 17,000). <\/p>\n\n\n Youth crisis <\/strong><\/p>\n\n\n\n Although the youth are still incredibly vulnerable in the labour market, the number of unemployed youth aged 15 to 34 declined by 131,000 to 4,7 million.<\/p>\n\n\n\n There was also an increase of 105,000 in the number of employed youth to 5.7 million over the same period. <\/p>\n\n\n\n The youth unemployment rate thus dropped by 1.1 percentage points to 45.3% in Q2 2023. <\/p>\n\n\n\n This is, however, far higher than the 23% seen for the 35 to 64 age segment. <\/p>\n\n\n<\/a><\/figure><\/div>\n\n\n<\/a><\/figure><\/div>\n\n\n