UNEMPLOYMENT RATE DROPS TO 27.1%

MZANSI’S unemployment rate dropped to 27.1% at the end of  the fourth quarter in 2018.

On Tuesday Statistics South Africa announced that the unemployment rate from 27.1% to 27.5%.

The South African working-age population increased by 149 000 or 0,4% in the fourth quarter of 2018 compared to the third quarter of 2018.

Stats SA says the number of employed people increased by 149 000 to 16,5 million and the number of unemployed people decreased by 70 000 to 6,1 million.

However, the informal sector recorded employment losses of 15 000 jobs, while the formal sector, private households and agriculture recorded gains in employment.

Meanwhile, the number of discouraged work-seekers increased by 108 000 while the number of other not economically active people decreased by 38 000.

“The number of employed persons declined in four of the ten industries in the fourth quarter of 2018 as compared to third quarter of 2018,” Stats SA said.

The declines were reportedly offset by employment gains in the Finance and other business services.

“Private households (65 000), Manufacturing (48 000), Mining (31 000), Trade (14 000) and Agriculture (7 000) industries, which resulted in a net increase of 149 000 in the fourth quarter of 2018,” Stats SA added.

According to Stats SA, while the official unemployment rate decreased by 0,4 of a percentage point at the national level in the fourth quarter of 2018 as compared to the third quarter in 2018, the rate increased in two of the nine provinces, namely KwaZulu-Natal by (2,6 percentage points), and Eastern Cape by (0,5 of a percentage point).

The unemployment rate decreased in seven provinces -year-on-year, the official unemployment rate increased by 0,4 of a percentage point.