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

Bruce Whitfield interviews Isaiah Mhlangi (Alexander Forbes Chief Economist) about the latest jobs figures.

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

– Just under 650,000 jobs were added between April and June, according to Stats SA’s quarterly labor force survey.


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

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

As a result of the increase in the total number of employed people in the country, 15.6 million people.

RELATED: South Africa’s unemployment rate falls to 33.9% in second quarter – Statistics SA

However, the amount unemployed people increased by 132,000 in the 2nd quarter, bringing the number to eight million.

RELATED: South Africa’s unemployment rate hits new high: ‘Those without a good education are left with nothing’

In the fourth quarter of 2021, the unemployment rate reached a new record high of 35.3%.

The expanded unemployment rate, which includes people looking for work and those who have stopped looking for work, fell from 45.5% to 44.1%.

Bruce Whitfield interviews Isaiah Mlangi, chief economist at Alexander Forbes.

While we should take the slight improvement in jobs on a positive note, says Mhlanga, “there is nothing to celebrate.”

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

Isao Mhlanga, Chief Economist – Alexander Forbes

To a large extent this is really a technicality rather than actual job creation in the economy…but that aside, 648,000 found jobs in the economy out of 780,000 who went looking for work.

Isao Mhlanga, Chief Economist – Alexander Forbes

It should be taken into account that a significant part of the created formal jobs is in the public sector, he says.

That’s 236,000 jobs… That means the government has done what it should have done in times of economic downturn, but the bad thing is that it’s part-time, which means they’ll forever be vulnerable to what could withstand the fisc.

Isao Mhlanga, Chief Economist – Alexander Forbes

Scroll to the top of the article to hear Mlangi’s analysis

This article first appeared on CapeTalk: “Slight improvement in jobs is positive, but nothing to celebrate”

Source by [author_name]

Previous articleAndrew Garfield recalls how he was ‘starved’ of sex and food for ‘The Silence’
Next articleEskom and City of Tshwane in talks over city’s 1.6 billion rand debt – SABC News