Q4 unemployment down 24.9% vs Q3 25.5%

SA's unemployment rate declined to 24.9% in the fourth quarter from 25.5% in the third quarter‚ Statistics SA figures showed yesterday.

By Ntsakisi Maswanganyi

6 Feb 2013

This was due to a decline in unemployment by 166‚000 to 4.5 million in the fourth quarter and a decline in employed people by 68‚000. The labour force declined by 235‚000‚ the data showed.

This was the first time since the inception of the quarterly labour force survey that there was a decrease in employment in the fourth quarter of a year.

A decrease in employment was attributable to job losses in the formal sector (down by 52‚000) and private households (down by 8‚000).

Employment in agriculture and in the informal sectors increased.

The number of non economically active people‚ representing individuals who are not in the labour force‚ increased by 345‚000 quarter on quarter and by 121‚000 on an annual basis. The number of discouraged work seekers increased by 87‚000.

The expanded definition of unemployment declined by 0.4% to 35.9% in the fourth quarter of last year.

Compared to the 4th quarter of 2011‚ the formal sector remained virtually unchanged‚ while the informal sector created 71‚000 jobs in the 4th quarter of 2012.

Of the 4.5 million people who were unemployed in the 4th quarter of last year‚ 61.3% did not have matric‚ 68% have been looking for work for a year or longer and 43.9% have never worked before.

Source: I-Net Bridge

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