A week after South Africa took to the voting stations, Statistics South Africa (Stats SA) has announced earlier that the country’s unemployment rate has increased to 27.6 percent during the first quarter of 2019. This compared to the fourth quarter of 2018 which was slightly “better” at 27.1 percent.
According to Stats SA the absorption rate decreased by 0.7 percentage points to 42.6 percent, which resulted in the unemployment rate increasing by 0.5 points to 27.6 percent.
Furthermore Stats SA said in their key findings that the number of employed persons decreased by 237 000 to 16.3 million in the first quarter of 2019, while the number of unemployed persons increased by 62 000 to 6.2 million.
The increase in unemployment has resulted in the decrease of 176 000 jobs, which is equivalent to 0.8 percent in the number of people now absent from South Africa’s labour force.
We will have to wait and see what the ruling party will do to increase the employment rate in the country, especially as it remains a key concern for students leaving university, as well as those currently struggling to find jobs.[Image – CC 0 Pixabay]