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Local – South Africa’s unemployment rate dropped to 32.1% in the third quarter of 2024, down from 33.5% the previous quarter, as reported by the latest Quarterly Labour Force Survey (QLFS). The expanded unemployment rate also dropped by 0.7 percentage points, reaching 41.9% compared to the second quarter of 2024.
Statistics South Africa revealed that “According to the QLFS Q3: 2024 results, there was an increase of 294 000 in the number of employed persons to 16,9 million in Q3: 2024, while there was a decrease of 373 000 in the number of unemployed persons to 8,0 million. This resulted in a decrease of 79 000 (down by 0,3%) in the labour force during the same period.”
Deputy Minister in the Presidency Nonceba Mhlauli welcomed the results, calling them “a testament to the hard work and dedication of our government working with all relevant stakeholders.”
She added, “The Economic Recovery and Reconstruction Plan (ERRP) and Operation Vulindlela initiated by President Ramaphosa have been instrumental in driving economic growth and job creation. We are pleased to see these efforts yielding positive results.”
Youth Employment Sees a Slight Improvement
Youth unemployment remains high, though it saw a slight improvement, decreasing from 46.6% to 45.5% as more young people found jobs. However, the survey highlighted that South African youth still remain particularly vulnerable in the labour market.
“The third quarter of 2024 results show that the total number of unemployed youth decreased by 171 000 to 4,8 million, while employed youth recorded an increase of 66 000 to 5,8 million.”
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Sector Growth
According to the report, the employment increase was driven mainly by the Community and Social Services, Construction, and Trade sectors, though there were slight declines in Finance, Private Households, Transport, and Manufacturing.
“The number of persons employed in the formal sector increased by 122 000 in Q3:2024, and the informal sector employment increased by 165 000 over the same period.”
Regionally, the most substantial job increases occurred in the Eastern Cape, Western Cape, North West, and Mpumalanga. Conversely, Gauteng and KwaZulu-Natal experienced slight job losses.
