SA’s unemployment rate increases to 32.1% in final quarter of 2023

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Statistics South Africa has released the unemployment rate for the fourth quarter of 2023, which rose to 32.1% from 31.9% in the third quarter.

The number of unemployed people also rose slightly, coming in at 7 895 000.

According to an expanded definition of unemployment that includes those discouraged from seeking work, 41.1% of the labour force was without work in the fourth quarter, compared with 41.2% in the third quarter.

In a statement, Stats SA says formal sector employment decreased by 128 000 in quarter 4 of last year, while informal sector employment increased by 124 000 over the same period.

The industries that contributed to the net employment decline include community and social services, construction, agriculture, trade and manufacturing.

However, finance, transport, mining and private households recorded the largest employment gains.

Document: 2023 Jobs stats 4th Quarter: