“A small improvement in the employment figures is positive, but nothing really encouraging”

South Africa’s unemployment rate fell slightly in the second quarter of 2022, to 33.9%.

Bruce Whitfield interviews Isaah Mhlanga (Chief Economist, Alexander Forbes) on the latest employment figures.

– The unemployment rate in South Africa fell further in the second quarter of 2022, to 33.9%

– Just under 650,000 jobs were created from April to June, according to Stats SA’s quarterly labor force survey


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South Africa’s unemployment rate fell further in the second quarter of 2022, to 33.9%.

648,000 jobs were gained from April to June, according to Stats SA’s Quarterly Labor Force Survey (QLFS).

This increase brings the total number of employed people in the country to 15.6 million.

RELATED: South Africa’s unemployment rate fell to 33.9% in the second quarter – Stats SA

However, the number of unemployed people increased by 132,000 in the second quarter, bringing the figure to eight million.

RELATED: New high unemployment rate in South Africa: ‘Those without a solid education are left to fend for themselves’

Unemployment had reached a new high of 35.3% in the fourth quarter of 2021.

The expanded unemployment rate, which includes discouraged job seekers who have stopped looking for work, fell from 45.5% to 44.1%.

Bruce Whitfield interviews Isaah Mhlanga, chief economist at Alexander Forbes.

While we should welcome the small improvement in the number of jobs, says Mhlanga, “there is nothing to celebrate”.

33.9% is only 0.6 percentage points lower than 34.5%, so we shouldn’t really celebrate this marginal improvement.

Isaah Mhlanga, Chief Economist – Alexander Forbes

To a large extent these are really technical, rather than the actual creation of jobs in the economy…but that aside, 648,000 found employment in the economy out of 780,000 who went to find a job. use.

Isaah Mhlanga, Chief Economist – Alexander Forbes

We have to take into account that a large part of the formal jobs that have been created are in the government sector, he says.

That’s 236,000 jobs… It’s that the government did what it’s supposed to do in an economic downturn, but the problem is that those are part-time jobs, which means that ‘they will forever be vulnerable to what the taxman can handle.

Isaah Mhlanga, Chief Economist – Alexander Forbes

Scroll to the top of the article to listen to Mhlanga’s analysis

This article first appeared on CapeTalk: ‘A small improvement in employment numbers is positive, but nothing to be happy about’

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