South Africa Unemployment Rate Declines to 24.3% in Q4


South Africa jobless rate decreased to 24.3 percent in the last three months of 2014 from 25.4 percent in the previous quarter. It is the lowest rate in a year as employment rose for the third consecutive quarter and the labour force decreased.

Between Q3 2014 and Q4 2014, the number of unemployed people decreased by 242 000 to 4.909 million. Yet, the labour force decreased by 39 000 to 20.22 million. The number of discouraged work-seekers decreased by 111 000 and the other (not economically active) group increased by 305 000, resulting in a net increase of 194 000 among the not economically active population. 

In the three months to December, the number of employed people increased by 203 000 to 15.32 million. Large quarterly gains were observed in the agriculture (56 000), construction (53 000) and trade (50 000) industries. Job losses were recorded in the utilities, mining and community and social services industries (15 000, 14 000 and 12 000 respectively).

Employment gains were recorded in seven of the nine provinces. The largest quarterly employment gains were observed in KwaZulu-Natal (101 000) and Gauteng (61 000) while job losses of 42 000 and 12 000 were respectively recorded in Eastern Cape and Western Cape. 

A year earlier, unemployment was recorded at 24.1 percent. Year-on-year, the number of unemployed rose by 79 000 in the fourth quarter of 2014 while employment increased by 143 thousand.

South Africa Unemployment Rate Declines to 24.3% in Q4


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
2/10/2015 10:26:51 AM