unemployment south africa

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Canada-based tech start-up, CostCertified, has announced the opening of their new headquarters in Cape Town’s city centre. Providing a first-of-its-kind cost estimating software for the residential construction industry, CostCertified joins over 550 firms in Africa’s Silicon Valley.


In the first quarter of 2022, Statistics South Africa (StatsSA) revealed that the unemployment rate increased to 63.9% for people aged 15-24 years old. On the other hand, unemployment stood at 42.1% for the 25-34 age group, prompting government to find ways to combat youth unemployment. 

 


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. 


In the third quarter of 2021, the expanded unemployment rate in KwaZulu Natal (KZN) stood at 48,6%. This means that almost all of the people in KZN were unemployed.


Both employers and prospective employees feel the pain of the recruitment process.  Job searches are often tense, drawn out and exhausting.  Both sides can benefit from a quicker, more accurate and less costly match. 


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. 


The Unemployment Insurance Fund (UIF) provides crucial financial support to workers who have lost income due to various circumstances. 


Statistics South Africa (StatsSA) have revealed that South Africa’s economy is still smaller than it was before the onset of the Covid-19 pandemic which was more than 20 months ago.


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


This week Finance Minister Enoch Godongwana tabled the first Medium Term Budget Policy Statement (MTBPS) of his tenure


South Africans are waiting in anticipation for Finance Minister Enoch Godongwana to deliver his maiden Medium Term Budget Policy Statement (MTBPS).


 South Africa’s Minister of Finance Enoch Godongwana will deliver the first Medium Term Budget Policy Statement (MTBPS) of his tenure.


The Covid-19 pandemic and the lockdowns it brought, has had a lasting impact on the South African economy. 


The Unemployment Insurance Fund (UIF) recently announced that they will be distributing short-term financial relief to workers who were affected by the July unrest in parts of KwaZulu Natal and Gauteng.


The Unemployment Insurance Fund (UIF) and the South African Social Security Agency (SASSA) both provide relief to people living in South Africa. However, their mandates are different.


Statistics South Africa (StatsSA) has released its Quarterly employment statistics (QES) for the second quarter of 2021. StatsSA found that around 86 000 formal jobs were lost during the second quarter of 2021.

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