Unemployment Rises in South Africa to 32.9% in Q1
In South Africa, the unemployment rate rose to 32.9% in the first quarter of 2023 from 32.7% in the final quarter of last year, data showed on Tuesday. Statistics said the number of unemployed people totaled 7.933 million between January-March period, from 7.753 million people in the last three months of 2022.
In South Africa, the unemployment level recorded includes those discouraged from seeking work, 42.4% were without work compared to 42.6% in the fourth quarter of 2022.
Jesu loruk o re, jesu loruko re, ajagun segun 2x, jesus loruko re o
The results of the Quarterly Labour Force Survey (QLFS) indicate that the number of employed persons increased by 258 000 to 16,2 million in the first quarter of 2023 compared to the fourth quarter of 2022, the statistics office said.
Specifically, it noted that the number of unemployed persons increased by 179 000 to 7,9 million during the same quarter. Additionally, the number of people who were not economically active for reasons other than discouragement decreased by 209 000 to 13,2 million.
The discouraged work-seekers decreased by 87 000 in the first quarter of 2023 compared to the fourth quarter of 2022 resulting in a net decrease of 296 000 in the not economically active population.
The above changes in employment and unemployment resulted in the official unemployment rate increasing by 0,2 of a percentage point from 32,7% in the fourth quarter of 2022 to 32,9% in the first quarter of 2023.
“The unemployment rate according to the expanded definition decreased by 0,2 of a percentage point to 42,4% in Q1:2023 compared to Q4:2022”, the report said. #Unemployment Rises in South Africa to 32.9% in Q1
Naira Steadies as Banks Issue Update on FX Purchase
