A slight decrease in unemployment rate: Stats SA

Statistics South Africa has released the unemployment rate for the fourth quarter, which edged lower to 32.7% from 32.9% in the third quarter.

The number of unemployed people also declined slightly to  7 753 000.

According to an expanded definition of unemployment that includes those discouraged from seeking work, 42% of the labour force was without work in the fourth quarter.

This is compared with 43.1% in the third quarter.

In a statement StatSA says, “The results indicate that 169 000 jobs were gained between the third quarter of 2022 and the fourth quarter of 2022. The total number of persons employed was 15,9 million in the fourth quarter of 2022. The number of unemployed persons increased by 28 000 to 7,8 million in the fourth quarter of 2022. The number of people who were not economically active for reasons other than discouragement increased by 95 000 to 13,4 million. The discouraged work-seekers decreased by 151 000 in the fourth quarter of 2022 compared to the previous quarter, resulting in a net decrease of 57 000 in the not economically active population.”

Full document below: