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The rate of unemployment fell by 1.3 percentage points to 24 percent between the third and fourth quarters of 2010, Statistics SA (Stats SA) said yesterday.
The Quarterly Labour Force Survey by Stats SA shows that employment added 157 000 over the same period, with the formal sector gaining 120 000 jobs, and the informal sector 53 000.
The government led in the decline of unemployment, with community and social services gaining 148 000 jobs. Agriculture suffered most, shedding 13 000 jobs, while private households remained unchanged.
The number of unemployed persons decreased by 259 000 jobs, while discouraged work seekers increased by 117 000.
Compared to the fourth quarter of 2009, there was an annual decrease of 0.9 percent (118 000) in employment, a decrease of 2.1 percent (89 000) in unemployed persons, and a 5 percent (711 000) rise in persons who are economically inactive – 440 000 of whom were discouraged work seekers.
The release of the survey comes two days ahead of President Jacob Zuma’s State of the Nation address. The government is in a drive to create 5 million jobs in 10 years.
Kgotso Radira, of Investec group economics, said the high unemployment rate remained South Africa’s biggest economic challenge.
Stanlib economist Kevin Lings said South Africa’s unemployment remained far too high by historical and international standards. - Business Report
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