Klerksdorp Record, Klerksdorp - When factoring in discouraged work seekers, the North-West province has more unemployed people than working!
Only one province - the North West - has more adults out of work and not looking than people who are employed, with an unemployment rate of 54.2%. However, the Eastern Cape is at a tipping point and could soon join the North West, as its unemployment rate is 49.7%.
According to Businesstech, South Africa’s unemployment rate trended upward in the second quarter of 2024 as tough economic and business conditions continued into 2024.
The figures are very negative indeed. The latest Quarterly Labour Force Survey (QFLS), published by Statistics South Africa on Tuesday August 13, shows that the official unemployment increased by 0.6% from 32.9% in Q1 2024 to 33.5% in Q2 2024.
According to the data, the number of unemployed persons increased by 158 000 to 8.4 million during the same quarter. Discouraged work seekers also increased by 147 000 (up by 4.8%).
Additionally, the number of people who were not economically active for reasons other than discouragement decreased by 75 000 (down by 0.6%) between Q1 and Q2. The national stats service noted that this resulted in a net increase of 72,000 in the not economically active population.
The industries that contributed to the net employment decline include Trade (-111 000), Agriculture (-45 000), Private households (-18 000), Construction (11 000) and Finance (-9 000). However, Manufacturing (+49 000), Community and social services (+36 000), and Utilities (+9 000) recorded the largest employment gains.
“Provincially, employment losses were recorded in the Eastern Cape (-111 000), Limpopo (-40 000), North West (-30 000) and Northern Cape (-2 000). Compared to Q3 2023, the largest employment increase was recorded in KwaZulu-Natal (+62 000), followed by Mpumalanga (+48 000) and Western Cape (+23 000) during the same period.
The largest negative contributors to the decline in GDP in the first quarter were construction (down by 2.9%), manufacturing (down by 1.5%), mining (down by 1.2%), and transport (down by 0.7%).
