Un­em­ploy­ment reaches 15-year high

CityPress - - Business - And Fin24 – Bloomberg

Source: Stats SA Lo­cal un­em­ploy­ment lev­els climbed to an al­most 15-year high at the end of Septem­ber as the econ­omy strug­gled to re­cover from a re­ces­sion in the first half of the year.

Un­em­ploy­ment rose to 27.5% from 27.2% in the three months to the end of June, Stats SA said this week.

Pri­vate house­holds shed the most jobs in the quar­ter, em­ploy­ing 30 000 fewer peo­ple. Min­ing recorded 29 000 job losses.

While there were 446 000 peo­ple em­ployed in the South African min­ing in­dus­try in the third quar­ter of last year, this had fallen to 406 000 ac­cord­ing the most re­cent data, a de­crease of 8.9%. Graph­ics24

The num­ber of peo­ple em­ployed rose to 16.4 mil­lion, while those with­out jobs in­creased by 127 000 to 6.2 mil­lion.

On an an­nual quar­ter-on-quar­ter ba­sis, jobs in the con­struc­tion in­dus­try in­creased by more than 10% – from 1.36 mil­lion to 1.5 mil­lion.

The un­em­ploy­ment rate for South Africans be­tween the ages of 15 and 24 was 52.8%.

The prov­ince with the low­est un­em­ploy­ment rate was Lim­popo, with 18.9%, fol­lowed by the Western Cape with 20.4% and KwaZu­luNatal with 23%.

The Free State had the high­est provin­cial un­em­ploy­ment rate at 36.3%.

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