Home World News Emerging Markets South Africa’s unemployment rate down to 31.9 percent in Q3

South Africa’s unemployment rate down to 31.9 percent in Q3

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South Africa
South Africa

South Africa’s unemployment rate decreased 0.7 percent from 32.6 percent in the second quarter of 2023 to 31.9 percent in the third quarter, data showed Tuesday.

About 16.7 million people were employed in the third quarter, up 399,000 from 16.3 million in the previous quarter, Statistics South Africa said in its latest quarterly labor force survey.

The largest job gains were in the agricultural sector, which saw an increase of 61,000 jobs, according to the survey. Job losses were mainly recorded in the country’s mining, transportation, and manufacturing sectors.

Youth between the ages of 15 and 34 remained vulnerable in the labor market as the youth unemployment rate stood at 43.4 percent in the third quarter, down from 45.3 percent in the second quarter, the survey showed.

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