Stats SA's Quarterly Labour Force Survey showed that almost 250,000 young people lost their jobs in the first quarter of 2023.
JOHANNESBURG - Statistics South Africa said youth unemployment remained a problem following the release of the latest figures for the first quarter of 2023.Almost a quarter of a million young people lost their jobs in the first three months of 2023.This means that a total of 4.9 million young people were unemployed during the said period, with an increase of 1.1% compared with the previous quarter.
Meanwhile, Stats SA's Dihlolelo Phoshoko said the country's official unemployment rate creeped up from 32.7% to 32.9% in the same period. “The number of people who were not economically active for reasons other than discouragement decreased by 209,000 to 13,2 million. “The 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 not economically active population.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Unemployment rate up by 0.2% in first quarter of 2023: StatsSAMining, construction, and manufacturing are among industries that recorded massive job losses.
Read more »
Unleashing the 'wow factor' with Samsung's 2023 TV line-up - TechCentralPromoted | Early ordering is now available in South Africa for Samsung’s incredible 2023 television line-up.
Read more »
BRICS Nations May Consider Common Currency at 2023 SummitThe BRICS nations - Brazil, Russia, India, China and South Africa - may consider a joint currency when they meet in Johannesburg in August, South African officials said, writes Voice of America. Russia has been spearheading the push for the creation of a joint currency, and Brazil has also thrown its support behind the idea. China is also in favour of challenging what its ministry of foreign affairs calls U.S. "dollar hegemony." South Africa's Reserve Bank Governor Lesetja Kganyago is sceptical. "I don't know how we would talk of a currency issued by a bloc of countries that are in different geographical locations because currencies are national in nature," he said. BRICS accounts for some 40% of the world's population, and an estimated one-quarter to one-third of global GDP. A number of other countries, including Saudi Arabia and Iran, have also expressed interest in joining BRICS.
Read more »
24 Best Bitcoin Casino Sites 2023 | Compare Crypto CasinosBitcoinCasinos.com is a trusted resource for honest reviews of bitcoin casinos. Find both the good apples and the bad eggs in our ruthless reviews.
Read more »
On the Record 2023: A summit about South Africa's futureHow can we get South Africa back on track? News24 and Nedbank will bring together the country's top business, political and civil leaders to map a way forward. You can be part of our On The Record summit too. Find out more here:
Read more »