43.3%

Finweek English Edition - - In Brief -

Fewer than half of South Africans of work­ing age – 43.3% to be ex­act – are em­ployed, the 2017 South Africa Sur­vey, pub­lished by the In­sti­tute of Race Re­la­tions, has re­vealed. In­ter­ro­gat­ing data from Statis­tics South Africa, the study showed that the num­ber of un­em­ployed peo­ple has in­creased from 3.7m in 1994 to 9.3m in 2017. Of the 9.3m un­em­ployed, 6m are un­der the age of 35. The fig­ure is low­est for black South Africans, who demon­strate a labour mar­ket ab­sorp­tion rate of just 40.4%. Young peo­ple also show far higher rates of un­em­ploy­ment than older peo­ple. (Also see page 36.)

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