SA’s jobless number grows to 7.2 million as unemployment rate breaches new record.
How many people in South Africa is jobless?
Statistics South Africa said the unemployment rate stood at 32.5% in the October-December quarter, meaning 7.2 million people were unemployed, up from 30.8% in the previous three months. The figure was the highest since the survey began in 2008.
What percentage of graduates are unemployed?
The average unemployment rate for graduates between Quarter 1 2017 and Quarter 3 2020 was 3.0%, compared with the total average unemployment rate of 4.2%. However, average unemployment for recent graduates was the highest, averaging at 6.3% over the period and reaching a peak of 12.0% in Quarter 3 2020.
What is the unemployment rate in South Africa 2019?
South Africa’s unemployment rate increased by 0,1 of a percentage point to 29,1% in Q3 of 2019. According to the Quarterly Labour Force Survey (QLFS) released by Statistics South Africa, this is the highest unemployment rate since Stats SA started measuring unemployment using the QLFS in 2008.
Why is unemployment in South Africa so high?
Statistics South Africa (Stats SA) released the Quarterly Labour Force Survey (QLFS) on Tuesday, which showed that the increasing unemployment rate is due to more people joining the labour force, as economists expected. According to Stats SA, one million more people joined the labour force.
Is South Africa considered poor?
As of 2019, an individual living in South Africa with less than 810 South African rands (roughly 47 U.S. dollars) per month was considered poor.
National poverty line in South Africa as of 2019 (in South African rand)
|Characteristic||Value in South African rand per person per month|
|Monthly upper-bound povery line||1,227|
What age group is most unemployed?
The unemployment rate for people ages 16 to 24 in the United States in 2020 was 14.9 percent. However, this rate was much lower for people aged 45 and over, at 6.7 percent.
What degree has the highest employment rate?
MAJORS WITH THE HIGHEST UNEMPLOYMENT RATE
|MAJORS WITH THE HIGHEST UNEMPLOYMENT RATE||RATE|
|Visual & Performing Arts||9.20%|
|Engineering & Industrial Management||9.20%|
Are students considered unemployed?
Unemployed workers are those who are jobless, seeking a job, and ready to work if they find a job. … Note that the labor force does not include the jobless who are not seeking work, such as full-time students, homemakers, and retirees. They are considered to be outside the labor force.
What is the unemployment rate in South Africa 2021?
JOHANNESBURG – South Africa’s official unemployment rate has risen to 32.6 percent between January and March 2021. More than 7.2 million are officially unemployed. The expanded unemployment rate, which includes discouraged workers, now stands at 42.3 percent.
What is the jobless rate today?
The unemployment rate is 6.1%, which is 0.1 percentage point higher than March.
What are the 4 types of unemployment?
There are four main types of unemployment in an economy—frictional, structural, cyclical, and seasonal—and each has a different cause.
- Frictional unemployment. …
- Structural unemployment. …
- Cyclical unemployment. …
- Seasonal unemployment.
What type of unemployment does South Africa suffer from?
The major proportion of unemployment in South Africa is Structural. Structural unemployment is caused by changes in the composition of labour supply and demand. Structural unemployment is part of the nation’s natural rate of unemployment.
What are the major problems caused by unemployment?
The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health …
What are the effects of unemployment in South Africa?
The pain of being unemployed in South Africa. Unemployment has both individual and social consequences that require public policy interventions. For the individual, unemployment can cause psychological distress, which can lead to a decline in life satisfaction. It can also lead to mood disorders and substance abuse.