Unemployment rate rises in Q1 of 2024 — Stats SA

Stats SA has announced that the official unemployment rate grew from 32.1% to 32.9% in the first quarter of 2024, with the unemployment rate according to the expanded definition increasing by 0.8 of a percentage point to 41.9% in the first quarter of 2024.

“The results of the Quarterly Labour Force Survey indicate that the number of employed persons increased by 22,000 to 16.7-million in the first quarter of 2024 compared to the fourth quarter of 2023,” the Quarterly Labour Force Survey released on Tuesday said.

It said while the number of employed people increased by about 22,000 since the fourth quarter of 2023, unemployed people increased by 330,000 to 8.2-million during the first quarter of 2024.

Discouraged jobseekers decreased by 1,000 in the first quarter of 2024 compared to the fourth quarter of 2023. This resulted in a net decrease of 215,000 in the not economically active population.

“The above changes in employment and unemployment resulted in the official unemployment rate increasing by 0.8 of a percentage point from 32.1% in the fourth quarter of 2023 to 32.9% in the first quarter of 2024.”

The survey said the largest increases in employment were recorded in:

• trade, where jobs went up to 109,000; followed by
• manufacturing, which employed 99,000;
• private households, where 44,000 people had jobs; and
• transport, which accounted for 39,000 jobs.

Decreases in employment were recorded in:

• community and social services, which had 122,000 jobs;
• construction, where there were 106,000;
• finance, which had 50,000; and
• utilities, which accounted for 17,000.

The survey said the first quarter of 2024 compared favourably with the first quarter of 2023.

“Compared to the same period last year, a net increase of 552,000 in total employment in quarter one of 2024 was largely due to increases in the number of people employed in finance, trade and private households industries. The industries that recorded decreases were community and social services, manufacturing and utilities.”

Provinces where the number of employed people increased include KwaZulu-Natal, Gauteng and the Northern Cape. Employment decreases were recorded in the Western Cape, the North West, Mpumalanga, the Eastern Cape and Limpopo. Jobs in the Free State remained unchanged.

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