Unemployment Rate Eases on Rising Absorption Rate

SOUTH AFRICA - Report 29 Oct 2013 by Iraj Abedian
According to Statistics South Africa, the Q3 2013 unemployment rate of 24.7% is 0.9 percentage points lower than the 25.6% recorded in Q2 2013 (see Graph 1 below). This was mainly driven by an increase in the number of employed persons (2.2% q/q) coupled with a decrease in the number of unemployed persons (-2.4% q/q) during the third quarter of 2013. Graph 1 Quarterly Unemployment Rate, South Africa, Q1 2011 – Q3 2013 Source: StasSA & PAIRS Whereas employment in the formal sector increased by 314,000, the informal and agriculture sectors shed 39,000 and 6,000 jobs, respectively. Despite the...

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