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<\/a><\/figure>\n\n\n\nStatsSA highlighted in its presentation that the number of unemployed people in South Africa increased substantially over the last decade, from 4.8 million in Q4:2013 to 7.9 million in Q4:2023 (+3.1 million people). <\/p>\n\n\n\n While the number of employed has surpassed pre-Covid levels, it must be noted that the unemployment rate is still higher \u2013 the unemployment rate in Q1 2020 was 30.1% (2 percentage points lower), meaning job creation is still not keeping up with the number of people entering the workforce<\/strong>.<\/p>\n\n\n\n The numbers<\/strong><\/p>\n\n\n\n In quarter 4 (October – December) 2023, the number of unemployed individuals has gone up by 46,000, reaching a total of 7.9 million, while the number of people not economically active due to reasons other than discouragement has increased by 218,000, totalling 13.4 million. <\/p>\n\n\n\n However, the number of discouraged work-seekers has decreased by 107,000 in the fourth quarter of 2023 compared to the third quarter of 2023. <\/p>\n\n\n\n This has resulted in a net increase of 111,000 in the population that is not economically active bracket.<\/p>\n\n\n\n The formal sector in South Africa accounts for 68,7% of total employment, however, jobs within the sector decreased by 128,000 jobs between Q3:2023 and Q4:2023.<\/p>\n\n\n\n StatsSA said that employment decreases were mainly in the Services (-171,000), Construction (-36,000), and Agriculture (-35,000) industries, while the largest employment increases were recorded in Finance (+128,000), Transport (+57,000) and Mining (+37,000).<\/p>\n\n\n\n The youth remain particularly vulnerable in South Africa’s labour market. <\/p>\n\n\n\n StatsSA said that youth aged 15-34 years are more vulnerable to unemployment when compared to older age groups, while around 3.4 million (33.0%) out of 10.2 million young people aged 15-24 years were not in employment, education or training (NEET).<\/p>\n\n\n\n The overall NEET rate (15 \u2013 24yrs) decreased by 0.7 of a percentage point in Q4:2023 compared to Q4:2022.<\/p>\n\n\n\n The unemployment rate increased in six provinces – the Western Cape, Northern Cape, KwaZulu Natal, Gauteng, North West, and the Eastern Cape – between Q3:2023 and Q4:2023.<\/p>\n\n\n\n The unemployment rate decreased in Limpopo, Mpumulanga, and the Free State.<\/p>\n\n\n\n The largest increase was recorded in the Eastern Cape – up by 3,1 percentage points. The Free State saw the largest drop, at 1,5 percentage points.<\/p>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n<\/a><\/figure>\n\n\n\n
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