SA's jobless rate falls
Pretoria - South Africa’s official jobless rate eased to
23.9% of the labour fource in the fourth quarter of 2011, from 25.0% in the
third quarter, a survey showed on Tuesday.
In its latest quartely Labour Force Survey, Statistics South
Africa said the total number of unemployed people stood at 4.244 million in the
three months to December from 4.442 million in the third quarter.
The expanded definition of unemployment, which includes
people who have stopped looking for work, decreased by 0.6 percentage points to
Chris Hart, chief economist, Investment Solutions, said the
economy was starting to claw some of the jobs lost in the wake of the global
“However, job creation is not happening in abundance or at
the rate that could ever hope to materially dent unemployment. We are tinkering
in decimal points whereas the substance of unemployment is not really being
resolved at all. This economy is not geared to creating jobs because the
environment is too hostile for small business," he said.
“Programmes (announced by President Zuma last year) are
really mere gestures. They could never ever be a solution to our jobs
The government sees unemployment as one of the major
challenges for South Africa’s economy after a million jobs were lost during a
recession in 2009 and have not been recovered.
Out of nearly 50 million people in South Africa, only about
13.1 million are employed, with only 40% of people of working age in a job.
The government is proposing changes to labour laws that are
intended to increase job security for temporary workers but economists expect
the shake-up will worsen unemployment as it partly ramps up costs for
Finance Minister Pravin Gordhan has said the economy needs
to grow by 7% a year on a sustained basis to make a dent on unemployment, more
than double the current rate of 3.1% seen for 2011.
Therte are three kinds of lies: Lies, damn lies and statistics.
Leonard H. Courtney, (1832-1918), later Lord Courtney, in New York in 1895: