The DA notes the Quarterly Labour Force Survey (QLFS) for Q2:2024, which runs from April to June, evidencing a further contracting job market and increasing unemployment rates amongst our youth and our most vulnerable.
The latest QLFS, for Q2:2024, shows a 0,6% increase in the official unemployment rate over the last quarter from 32,9% to 33,5%, with the year-on-year comparison revealing a highly concerning 0,9% increase in the official unemployment rate from 32,6% in Q2:2023 to this quarter. To put these numbers into perspective, 158,000 South Africans lost their jobs over the last three months and 462,000 over the last year.
As things stand, 8,3 million South Africans are now without work.
The expanded unemployment rate paints an even bleaker picture. According to StatsSA, the real rate of unemployment, including those discouraged and economically inactive, now stands at 42,6% nationally, an increase of 0,7% over the last quarter and 0,5% over the last year, this despite a growth in total employment by 306,000 persons since Q2:2023.
Turning to our NEET unemployment rate, which measures unemployment amongst young South Africans between the ages of 15 to 34, it is reported that 44,2% of our youth are currently economically inactive. This is an increase from the last quarter (of 0,4%) and a substantial growth from last year (of 0,8%), illustrating the crucial need for workable government policies that uplift, train, and educate our youth so that they may take their rightful place as the builders of our young democracy.
Looking at the provincial data, the Western Cape has retained its position as the province with the lowest unemployment rate, standing at 22,2% - well below the national average of 33,5%. In fact, even the Western Cape's expanded unemployment rate of 27,3% still beats that average. This is in stark contrast to provinces such as the North West, the Eastern Cape, and Mpumalanga who top the expanded unemployment charts at 54,2%, 49,7%, and 48,7%, respectively.
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This QLFS, should be a wake-up call to government and stakeholders alike that it can no longer be business as usual. Minister Nomakhosazana Meth and her team have a long road ahead in building a labour force that is educated, work-ready, and well-equipped to enter the workplace. The DA will engage with the Minister and her department to bring fresh, innovative policies to the fore.
The DA also urges the Minister to engage with her counterparts in small business development to continue to support and empower our entrepreneurs and cut prohibitive red tape, all vital ingredients to a healthy and growing economy. The DA will continue to champion sustainable job creation and use its influence in Parliament to forge ahead with our plan to Rescue South Africa.
