Gauteng unemployment drops to 23.7%

"Gauteng remains South Africa's biggest economy and largest contributor in terms of job creation," he said in a statement. "When compared with other provinces, Gauteng recorded the biggest decrease in [the] unemployment rate."

Gauteng's unemployment rate was at 25.4% in the second quarter of 2012, and has since fallen to 23.7%.

"This is a noticeable downward move. That said, unemployment remains one of the biggest challenges facing our province's economy," Kolisile said.

The department intended supporting small businesses and says it will achieve this through the Gauteng Enterprise Propeller (GEP).

"During this financial year, GEP has provided tailor-made support and training to 231 SMMEs [small-, medium- and micro-sized enterprises] and 391 co-operatives.

"Through these interventions, the department has contributed to the creation of 761 jobs in our economy," he said.

Kolisile said the GEP also provided financial support to nearly 60 small businesses in construction, wholesale and retail, agriculture, information and communications technology, and the automotive and manufacturing sectors.

"A total of 110 businesses owned by people with disabilities also received funding from GEP. The financial assistance provided to these businesses led to the creation of 402 job opportunities.

"This financial assistance is a lifeline for small businesses in Gauteng, especially given the hurdles that small businesses encounter in accessing funding from private financial institutions," Kolisile added.

Source: Sapa via I-Net Bridge