UNEMPLOYMENT rate in South Africa fell to 34.5% in the first quarter of 2022, decreasing from a record high rate of 35.3% in the last quarter of 2021, according to Statistics South Africa (Stats SA).
Stats SA issued results of the Quarterly Labour Force Survey (QLFS) for Q1: 2022 on Tuesday.
This translates to 7.9-million people in the country officially unemployed.
According to Stats SA, the number of employed people increased by 370,000 to 14.9 million, and the number of unemployed people decreased by 60,000 to 7.9 million in 1Q, compared with the last quarter of 2021.
The expanded unemployment rate, which includes discouraged job seekers–those who would be able to work but haven’t been actively seeking employment–decreased to 45.5%.
“The total number of persons employed was 14,9 million in the first quarter of 2022,” Stats SA said in a statement.
“The number of unemployed persons decreased by 60 000 to 7,9 million in the 1st quarter of 2022 compared to the previous quarter.”
The South African Reserve Bank earlier in May raised the main interest rate to 4.5%.
The bank expects the economy to grow 1.7% in 2022, as Africa’s most developed economy grapples with growing inflation rates and rising energy and food prices.
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