SA’s Employment Rate Drops in 3rd Quarter of 2024 After 133k Jobs Lost

• South Africa's employment rate increased in the third quarter of 2024 after sizeable job losses in the formal non-agricultural sector
• The sector experienced a total job loss of 133,000, dropping to 10.6 million in September from 10.74 million three months earlier in June
• The recent stats released by Statistics South Africa (Stats SA) invited critical reactions from observers lamenting the latest development

JOHANNESBURG — South Africa's latest employment figures have raised concerns after the formal non-agricultural sector experienced a decline in the third quarter of 2024.

Subdued economic activity resulted in a total employment loss of 133,000 part-time and full-time jobs, translating to a quarter-on-quarter reduction of 1.2%.

SA suffers 3rd quarter job losses

Statistics South Africa (Stats SA) released its Quarterly Employment Statistics (QES) survey on Thursday, 12 December 2024. It revealed that total employment stood at 10.6 million in September, down from 10.74 million in June.

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According to the survey, between September 2023 and September 2024, 294,000 jobs were lost. Of these, 131,000 were shed in the community services industry.

"[The next highest was] the business services industry, recording a loss of 15,000 jobs. Other declining sectors included manufacturing, down by 4,000 jobs, transport by 3,000, mining by 2,000, and energy by 1,000."

Despite the downturn, other economic indicators, such as earnings, showed positive movement.

"The trade and construction industries saw increases of 19,000 and 4,000 jobs, respectively," reported Stats SA.

Full-time employment decreased by 14,000 jobs, falling from 9,468,000 in the second quarter of 2024 to 9,454,000 in the third quarter of 2024.

Industries with declines in full-time employment were the business services sector, after a reduction of 22,000 jobs, and manufacturing, after shedding 5,000.

Delivering bad news in good way

Locals keeping up with the developments on social media zoned in on the latest statistics, leaving many on edge.

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Briefly News looks at the responses.

@afroghanga wrote:

"Lol. Why don't you just say that unemployment increased yet again?"

@IvynSambo observed:

"So, you used different wording to say unemployment has increased. This is interesting."

@UnathiAfrika added:

"This headline reminds me of that Limpopo Premier who said, 'Unemployment is increasing at a decreasing rate'. Anyway, is the GNU still taking credit?"

@lion_queeen implored:

"@DeanMacpherson, since you took credit for the last little decrease in unemployment on behalf of GNU, please share this, too."

@DeRealG12 advised:

"Citizens now is the time for us to start businesses, forget about jobs. Get a skill and start a business."

Why are people still unemployed?

In related news, Briefly News reported that in light of a glaring employment situation, a concerned but clever citizen painted a dramatic picture of why.

This opened the floor for a discussion about the fast-growing digital industry and its opportunities for unemployed youth.

Source: Briefly News