PASSWORD RESET

News

BREAKING: Unemployment rate drops to 26.7%

94 0

Cape Town – Statistics South Africa (Stats SA) said on Tuesday that the Unemployment rate has dropped down to 26.7% in the the fourth quarter of 2017.

This information is based on the quarterly labour force survey.

According to Stats SA the drop comprises 5.9 million people in SA, that are unemployed but are active job seekers.  

Unemployment in South Africa down to 26,7% in Q4:2017 from 27,7% in Q3:2017

The results are however 12.7 percentage points away from the 14% targeted in the National Development Plan for 2020.

Statistician general Risenga Maluleke said that the NDP target for 2030 is 6% and unfortunately this is 1 percentage point down from the unemployment rate of 27.7% recorded for the second and third quarters of 2017.

More than two-thirds of unemployed people have been without unemployed for a year or longer.

Maluleke noted that 16,2 million people were employed in Quarter 4 of 2017. Therefore the absorption rate was 43,1%.

StatsSA

StatsSA said that close to 30% of people aged 15 -24 years old were not in employment, education or training programmes in Q4 of 2017. 

The Northern Cape recorded the highest level at 38,2%, where Limpopo was the lowest at 25%.

StatsSA

15,5 million people aged 15 – 64 years were not economically active in Q4 of 2017, this was up 503 000 and a majority of these were students. 

StatsSA

-BUSINESS REPORT ONLINE 

Source: New feed

Leave A Reply

Your email address will not be published.