May 20, 2024
Employment

Unemployment rate drops under Q1 | 7.9M Remain Unemployed

unemployment rate

Jobless stats rate under the expanded definition of the first quarter is out and has revealed a decline from 35.3% to 34.5%, stating that 7.9 people remain unemployed in South Africa, with 12.4 Million people under the expanded definition remain unemployed.

The number of young people under the age of 15-24 years, are recorded to be the highest unemployed with the rate sitting at 63.9%. The expanded definition of unemployment is at 45.5%, with a surprising report that states black African women remain most vulnerable with an unemployment rate of 40.6% and graduates unemployment rate is at 12.6%.

South Africa’s official unemployment rate declined to 34.5% in the first quarter of 2022. According to the latest data, about 370 000 jobs were secured/obtained between the fourth quarter of 2021 and the first quarter of 2022. The number of people looking for jobs now has gone down from 46.2% to 45.5%.