https://www.engineeringnews.co.za

SA's unemployment rate hits record 34.4%

Unemployed people standing in line

Photo by Reuters

24th August 2021

By: News24Wire

  

Font size: - +

Unemployment has hit a record high of 34.4%, or 7.8-million jobless people.

Stats SA released the Quarterly Labour Force Survey for the second quarter on Tuesday. This is the highest unemployment rate recorded since the survey started in 2008.

The unemployment rate was previously 32.6%.

The expanded definition of unemployment - which accounts for those discouraged from seeking work - has increased 1.2 percentage points to 44.4%. 

Last week, during a briefing on the economic outlook to the Parliament's Standing Committee on Finance, Reserve Bank Governor Lesetja Kganyago noted that the recovery in employment levels following the pandemic was lagging behind the GDP recovery - this after the economy suffered a -7% contraction in 2020 due to the Covid-19 pandemic and its associated lockdown.

Kganyago however pointed out that earnings had returned to pre-pandemic levels.

Edited by News24Wire

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 2 hours 46 minutes ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.077 0.131s - 161pq - 2rq
Subscribe Now