economy south africa

Advertisement


Advertisement




President Cyril Ramaphosa said the triple challenge of unemployment, poverty and inequality needs to be addressed in South Africa. And while millions remain unemployed, marginal gains in tackling unemployment were made as the unemployment rate declined.

 


The economic and social consequences brought about by unemployment could negatively impact the growth of an entire country.


In the final months of 2021, South Africa’s unemployment rate rose to 35.3%, meaning that more than one in every three people living in the country are unemployed.

 


Earlier this week, Statistics South Africa released the Quarterly Labour Force Survey for the final quarter of 2021. Whilst unemployment rose countrywide, one province has celebrated the creation of jobs. 


The unemployment rate in South Africa increased during the final months of 2022 painting a grim picture of the job losses experienced by the country's population. 


Recent figures released by Statistics South Africa (StatsSA) have revealed that South Africa’s Growth Domestic Product (GDP) increased by 1,2% in the fourth quarter of 2021. 


More than half a million jobs were lost in the third quarter of 2021 according to Statistics South Africa (Stats SA). 

Advertisement


Advertisement


Advertisement



Advertisement




Advertisement


Advertisement