Durban, a major city in South Africa, has achieved the lowest unemployment rate among its metropolitan areas, demonstrating a strong economic recovery. The city saw a significant increase in employment numbers and a decline in unemployment, according to the latest Quarterly Labour Force Survey.
Durban has emerged as a beacon of economic resilience in South Africa, recording the lowest unemployment rate among major cities and a significant surge in employment. The latest Quarterly Labour Force Survey conducted by Statistics South Africa (Stats SA) for the fourth quarter of 2024 (Q4 2024) revealed a remarkable 70,000 net job gain in Durban during the year, signaling a robust and sustained economic recovery.
Durban's employment figures soared from 1,263,000 in Q4 2023 to 1,333,000 in Q4 2024, while quarter-on-quarter employment increased by 0.91% between Q3 2024 and Q4 2024. This positive trend resulted in a notable decline in the city's unemployment rate, dropping from 21% in Q3 2024 to 17% in Q4 2024, a record low in recent years. City Manager Musa Mbhele attributed this success to strategic initiatives and collaborative efforts between the public and private sectors. He emphasized that Durban's commitment to attracting investment and fostering economic opportunities is paying off, solidifying its position as a leading destination for growth and prosperity.However, despite the encouraging overall employment picture, a concerning trend emerged with an increase in the number of discouraged work-seekers. Individuals who have given up actively searching for employment rose from 320,000 in Q3 2024 to 350,000 in Q4 2024. This indicates that while the official unemployment rate is declining, some potential job seekers are being pushed out of the labor force due to persistent barriers to employment. Mbhele acknowledged this challenge, stating the importance of addressing the rising number of discouraged work-seekers to ensure inclusive and sustainable economic growth. He reiterated Durban's commitment to further strengthening its reputation as a premier business and employment hub in South Africa through continued efforts and strategic interventions
Economics ECONOMICS EMPLOYMENT Unemployment DURBAN SOUTH AFRICA LABOUR MARKET ECONOMIC GROWTH
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