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While the country’s working-age population continued to grow, increasing by 585,000 or 1.5% in the third quarter, the labor market continued to contract.
JOHANNESBURG – Only 543,000 more people joined the country’s workforce during the third quarter of the year after 2.2 million job losses recorded in the second quarter.
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This is contained in the Quarterly Labor Force Survey (QLFS), which was published by Stats SA on Thursday and shows that the unemployment rate stood at 30.8% and the unemployment rate expanded at 43.1%.
ONLY IN: SA Officer #unemployment the rate is now 30.8%.
Youth unemployment stands at an alarming 61.3%. pic.twitter.com/RUfvKNWlKA
EWN reporter (@ EWN reporter) November 12, 2020
While the country’s working-age population continued to grow, increasing by 585,000 or 1.5% in the third quarter, the labor market continued to contract.
• READ ALSO: Cosatu is not surprised by the increase in the unemployment rate of SA, blames the formulation of policies
The unemployment rate is now the highest since the inception of the QLFS in 2008.
Statistician General Risenga Maluleke explained that the biggest contributors to job losses were transportation and utilities.
“All sectors were greatly affected in terms of people who were not working because all sectors lost jobs coming out of the first quarter. In the second quarter we had 2.2 million people lose their jobs, ”Maluleke said.
Meanwhile, the largest increases in employment were observed in the formal sector followed by private households and the agricultural sector.
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