PHUTI MOSOMANE
ACCORDING to the results of the Quarterly Labour Force Survey (QLFS) published by Statistics South Africa, the number of employed persons in the first quarter of 2023 increased by 258,000 to reach 16.2 million compared to the fourth quarter of 2022.
Simultaneously, the number of unemployed persons rose by 179,000 to reach 7.9 million during the same quarter. On the other hand, the number of individuals who were not economically active due to reasons other than discouragement decreased by 209,000 to reach 13.2 million.
The number of discouraged work-seekers decreased by 87,000 in the first quarter of 2023 compared to the fourth quarter of 2022, resulting in a net decrease of 296,000 in the population categorized as not economically active.
As a result of the changes in employment and unemployment, the official unemployment rate increased by 0.2 percentage points from 32.7% in the fourth quarter of 2022 to 32.9% in the first quarter of 2023.
The unemployment rate, according to the expanded definition, decreased by 0.2 percentage points to 42.4% in Q1:2023 compared to Q4:2022.
Both the formal and informal sectors saw increases in employment, with the formal sector recording a gain of 209,000 and the informal sector gaining 107,000 jobs.
The Finance industry experienced the largest employment gain with 184,000 jobs, followed by Community and Social Services with 175,000 jobs, and Agriculture with 27,000 jobs.
However, employment losses were observed in Private households (85,000), Trade (28,000), Mining (24,000), Construction (11,000), and Manufacturing (2,000).
In terms of regional changes, Gauteng experienced the largest employment increase with 80,000 jobs, followed by Limpopo (71,000), Western Cape (62,000), KwaZulu-Natal (54,000), and Eastern Cape (41,000). Conversely, employment losses were recorded in Mpumalanga (45,000), North West, and Free State (4,000 each) during the same period.
The first quarter of 2023 highlighted the continued vulnerability of youth in the labor market. The total number of unemployed youth (aged 15-34 years) increased by 241,000 to reach 4.9 million, while the number of employed youth increased by 28,000 to reach 5.6 million during the same period.
Consequently, the youth unemployment rate increased by 1.1 percentage points to 46.5% in Q1:2023.
The official unemployment rate stood at 32.9% in the first quarter of 2023.
INSIDE POLITICS
