Unemployment rate comes in at 32,9% in 2022 Q3: Stats SA
Pretoria - Statistics South Africa (StatsSA) today, released the results of the Quarterly Labour Force Survey (QLFS) for Q3: 2022. These results indicate that 204 000 jobs were gained between the second quarter of 2022 and the third quarter of 2022. The total number of persons employed was 15,8 million in the third quarter of 2022.
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 of 2022 compared to the previous quarter. The number of people who were not economically active for reasons other than discouragement increased by 264 000 between the two quarters resulting in a net increase of 210 000 in the not economically active population.
StatsSA said the above changes in employment and unemployment resulted in the official unemployment rate decreasing by 1,0 percentage point from 33,9% in the second quarter of 2022 to 32,9% in the third quarter of 2022, adding that the unemployment rate according to the expanded definition of unemployment also decreased by 1,0 percentage point to 43,1% in Q3:2022 compared to Q2:2022.
It said the following industries; Manufacturing (123 000), Trade (82 000), Construction (46 000) and Transport (33 000) recorded the largest job gains, while job losses were recorded in Finance (80 000), Private households (36 000) and Mining and Agriculture (1 000) each. Sectors that recorded job increases were the formal and informal with 235 000 and 6 000 respectively.
The third quarter of 2022 results continue to show that the youth (aged 15-34 years) remain vulnerable in the labour market with unemployment rate of 45,5%. The total number of unemployed youth decreased by 182 000 to 4,6 million in Q3:2022. There was an increase of 25 000 in the number of employed youth during the same period. The increase in employment and the decrease in unemployment among the youth resulted in a decrease in the youth unemployment rate by 1,0 percentage point.
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