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South Africa’s statistics agency, Stats SA, has announced a drop in the unemployment rate. This is the first drop in nearly two years. According to the agency,370,000 new jobs were created between the fourth quarter of 2021 and the first quarter of 2022
South Africa’s statistics agency, Stats SA, has announced a drop in the unemployment rate. This is the first drop in nearly two years. According to the agency,370,000 new jobs were created between the fourth quarter of 2021 and the first quarter of 2022.
The country was hit hard by the pandemic. Since July 2020, the number of jobless people has been rising steadily. South Africa now has 14.9 million workers, of a total population of nearly 60 million. The number of unemployed fell by 60,000 from the previous quarter to 7.9 million. Presently, the unemployment rate stands at 34,5%.
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https://trendsnafrica.com/south-africas-employment-in-fourth-quarter-dips/
Job creation was mostly in community and social services, manufacturing, and trade sectors, while finance, construction, and agriculture continued to lose people. It may be recalled, that earlier this year, tensions flared against foreign workers. The number of unemployed young people (15-34 years old) decreased by 0.1% compared to the end of last year to 4.7 million. It is to be seen whether the gain in jobs would really lead to economic recovery and shoring up of business confidence.
