• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
See More

Unemployment eases slightly

Feb 05 2013 12:36
Unemployed, jobless, looking for work, application


Company Data


Last traded 373
Change 0
% Change 0
Cumulative volume 329880
Market cap 0

Last Updated: 25-05-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Told to leave SA

ILO: Jobless ranks swell

SA unemployment 'exceptional'

IMF dims SA growth prospects

Marcus warns on joblessness

Workers, jobless SA's new divide


Johannesburg - South Africa's unemployment rate fell to 24.9% of the labour force in the last quarter of 2012 from 25.5% in the third quarter, Statistics South Africa said on Tuesday.

In its Quarterly Labour Force Survey, Stats SA said this amounted to 4.5 million people without work in the fourth quarter, down from 4.67 million jobless in the previous three months.

The expanded definition of unemployment, which includes people who have stopped looking for work, was at 35.9% from 36.3% previously.

Peter Attard Montalto, emerging market economist at Nomura said: "The unemployment figure is totally misleading and not the thing to look at. This was a weak report, with the labour force and number employed contracting versus the previous quarter.

"The breakdown showed quite some volatility across sectors though the key is export-related sectors, which are adding back jobs but far too slowly to make any meaningful impact, whilst retail trade jobs is very weak.

"Overall, this shows the underpinnings to household balance sheets and the ongoing growth in consumption remains shaky and probably largely driven by credit."

The rand strengthened to R8.8835 against the dollar from R8.9010 before the data was released.

The yield on the 2015 government bond fell 1 basis point to 5.33% and that on the 2026 issue  declined 1.5 basis points to 7.34%.

The unemployment rate has remained at about 25% for years, causing social unrest and requiring social welfare spending that is straining the budget.

Mining firms, including the world's biggest platinum producer Anglo Platinum [JSE:AMS], are planning job cuts due to labour friction and a loss of profitability that could exacerbate the problem.

South Africa's labour laws, ranked as some of the most rigid in the world, have dissuaded employers from taking on new, inexperienced workers, partly because of the difficulty and expense of firing them.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

unemployment  |  sa economy


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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

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

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote