Eswatini ranked third highest in 2024 unemployment rate
MBABANE – Eswatini is ranked third among the top 10 African countries with the highest unemployment rate in 2024.
This is according to statistics released by Statista, an online portal providing data on the global digital economy, industrial sectors, consumer markets, public opinion, media and macro-economic developments.
Data from 425 economic sectors are provided with a range of info graphic tools for analysis and visualisation.
Interesting to note is that the neighbouring South Africa is rated first with 32.1 per cent while the third-placed Eswatini is rated 24.65 percent. In second position behind South Africa is Djibouti on 27.9 per cent with Gabon completing the top four (21.35 percent rating).
Other African countries listed in the top eight brackets along Eswatini as those with high unemployment rate this year include Congo (21.3 per cent, Botswana (20.72 per cent, Somalia (20.53 per cent) and Namibia (20.37 per cent).
Statista is regarded as the go-to source for businesses, governments, academics and other entities that rely on accurate, reliable data to make informed decisions.
The unemployment rate of a country or region refers to the share of the total workforce that is currently without work, but actively searching for employment.
It does not include economically inactive persons, such as children, retirees, or the long-term unemployed.
According to the International Labour Organisation (ILO) report, unemployment rate in Eswatini decreased to 22.20 percent in 2023 from 22.60 per cent in 2022. Unemployment rate in the country averaged 24.36 per cent from 1989 until 2023, reaching an all-time high of 28.60 per cent in 1989 and a record low of 20.30 percent in 1991.
submissions
The high unemployment rate in the country was one of the sticky topics in most of the submissions during the Sibaya People’s Parliament where citizens took turns in calling upon government to avail job opportunities for emaSwati, in particular the youth.
Notably, this was one of the issues of discussion during the recent Speech from the Throne by His Majesty Mswati III when officially opening the first session of the 12th Parliament a few days ago.
The high unemployment rate in the country has also always been a topic of discussions during Parliament sittings.
Research is showing that unemployment rate in Eswatini is expected to reach 24 00 per cent by the end of 2024, according to Trading Economics global macro models and analysts’ expectations.
In the long-term, the Eswatini unemployment rate is projected to trend around 23.80 percent in 2025, according to some econometric models.
Government’s Spokesperson Alpheous Nxumalo’s reaction to the statistics was that: “Work as hard as possible to create and to save jobs just exactly what your daily newspaper reported that Minister Mancoba Khumalo has saved 1700 jobs. It was also reported in the past about many other job opportunities that have been created by His Majesty’s Government.”
Nxumalo also stated that creating many job opportunities remained the focus and economic impact that government is committed to.
“The figures (unemployment rate) will change, unless the lenses to estimate and judge us continue to be biased and unbalanced,” he said.