See More

SA unemployment rates among highest

May 04 2011 06:49 Pietman Roos

Related Articles

Alarm over 1.9m jobless youths

IDC billions to boost industry

Casual work spurs jobs growth

Graduates upbeat about staying in SA

Use culture to create jobs, says minister

Jobs SA's most urgent need: survey

Johannesburg - South Africa’s latest unemployment figure makes the country the one with the highest official unemployment statistic among 61 surveyed by Bloomberg.

Despite an economic uptick in the first quarter of the year, another 14 000 jobs were lost compared with the fourth quarter of 2010.

According to statistics released by Stats SA on Tuesday, the official unemployment figure is now 25%, one percentage point up on the 24% for the fourth quarter of last year.

The unofficial number – which includes those people no longer seeking work – looks even worse. This rose 1.1 percentage points to 36.5%, with some provinces like Mpumalanga showing that 42.5% of the labour force was without jobs.

Economists.co.za economist Mike Schüssler said that during the Great Depression of the 1930s America had had a 25% unemployment figure for only a few months.

For South Africa to maintain these levels over more than a decade shows that we don’t understand the problem, he said.

Nedbank issued a statement saying said that the figures were disappointing and emphasised the fragile nature of South Africa’s economic recovery. Problems around electricity provision and infrastructure would erode job creation even further.

According to Schüssler, job creation is overwhelmingly driven by public-service hiring.

In the first quarter of this year state-controlled companies and the public service had added some 158 000 jobs year on year.

Still, in the first quarter the number of jobs in the overall economy was only 42 000 more than in the first quarter of 2010.

This meant that 100 000 private-sector jobs had been lost, said Schüssler.

Government cannot sustainably remain the biggest employer, he said.

- Sake24

For business news in Afrikaans, go to Sake24.com.
stats sa  |  unemployment  |  jobs


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote