South Africa’s unemployment hits a record high
South Africa’s unemployment rate has hit a record high, with unemployment numbers recorded at 7.8million , according to stats released by Stats SA’s Quartley Labour Force Survey (QLFS) for the second quarter, on Tuesday.
The formal sector employment , recorded a loss of up to 375 000 jobs during this quarter, however employment in the informal sector, private and agricultural jobs growth include construction, trade and transport.
“Some industries created jobs while others lost jobs between quarter one of 2021 and quarter two of 2021, which resulted in a net decline of 54 000 in total employment,” Stats SA noted.
The report also showed that unemployment was lower for graduates, compared to those without tertiary qualifications, or those with less than a matric certificate. The black African population recorded a higher rate of unemployment (38.2%) when compared to the national average and that of other population groups, Stats SA said. With black African women bearing the brunt of unemployment mostly.
Unemployment in South Africa:
Blacks – 38.2%
Coloureds – 28.5%
Indians – 19.5%
Whites – 8.6%
Basic Income in South Africa (p.a):
Blacks – R92000
Coloured – R172000
Indians – R271000
Whites – R444000
Unemployment of Black Women is 41% the Highest in the Country#unemployment
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Stats SA highlighted that the labor market is more favorable to men than it is to women. The official unemployment rate for women was 36.8%, when compared to 32.4% for men.
“Men are more likely to be in paid employment than women, regardless of race,” it stated.
Unemployment continues to burden the youth with nearly two-thirds (64.4%) of those aged 15 to 24 being unemployed and 42.9% of those aged 25 to 34 are also unemployed.