South African unemployment rate drops to 25 percent
South Africa’s unemployment decreased to 25 percent in the second quarter of 2015 from a ten-year high of 26.40 percent in the first quarter of 2015. The Unemployment Rate in South Africa averaged 25.27 percent from 2000 until 2015, reaching an all-time high of 31.20 percent in the first quarter of 2003 and a record low of 21.50 percent in the fourth quarter of 2008. Unemployment Rate in South Africa is reported by the Statistics South Africa.
“The unemployment rate decreased by 1.4 percent to 25 percent between the first and second quarters of 2015,” Statistician General Pali Lehohla said as he released the results of the Quarterly Labour Force Survey (QLFS) for the second quarter of 2015.
According to Lehohla, since 2011, there has been growth in employment even though it fluctuates.
The QLFS showed that unemployment declined by 305 000 on a quarterly basis.
According to the survey, South Africa’s working age population is at 36 million, with a 15.7 million being employed, 5.2 million being unemployed and 15.1 million being not economically active. The survey shows that the formal sector accounted for the largest share of employment at 69.2 percent, while agriculture accounted for the lowest share at 5.6 percent.
Employment growth was largely supported by a rise of 177 000 jobs in the informal sector on a quarterly basis.
Employment in the formal sector of the economy increased by 39 000.
According to the report, large quarterly gains were seen in the community and social services at 98 000, construction at 79 000 and trade at 73 000 industries.
Job losses were recorded in the finance, manufacturing and agriculture industries at 31 000, 23 000 and 22 000 respectively. Around 16 percent of the not economically active population was accounted for by discouraged work-seekers, while more than 80 percent were due to other reasons (ie student, home maker).
In South Africa, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Source: Statistics SA (Edited)