Official and expanded definitions of unemployment rate drop in Q4
Stats SA announced a drop in the official and expanded unemployment rates in the country for Q4 of 2022.
Statistics South Africa announced the Q4 results of the Quarterly Labour Force Survey (QLFS) on Tuesday, 1 March. The official unemployment rate decreased, and the expanded unemployment rate is seen as a more accurate reflection of joblessness in South Africa.
UNEMPLOYMENT DECREASES
Stats SA said there was a 0.2% decrease in the official unemployment rate, which now stands at 32.9%.
According to the expanded definition, the unemployment rate, which includes discouraged people no longer actively looking for work, decreased by 0.5% to 42.6%.
Stats SA said 169 000 jobs were gained between Q3 and Q4:2022, with a total of 15.9 million people employed in Q4, while the number of unemployed persons increased by 28 000 to 7.8 million.
The number of people no longer economically active for reasons other than discouragement increased by 95 000 to 13.4 million, and discouraged job seekers decreased by 151 000. This worked out to a net decrease of 57 000 in the economically inactive population.
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