Yet measuring how many people are unemployed at any given moment in any given country is rather complex. Statistics South Africa’s results for the first quarter of 2019 showed an unemployment rate of 31% among graduates up to the age of 24. Inadequate education and lack of productivity is costing jobs. The recently released Quarterly Labour Force Survey by Statistics South Africa, revealed that the country’s official unemployment rate increased by 7.5% during Q3 2020, to a record high of 30.8%. For more articles, go to www.businessinsider.co.za. Internationally, South Africa’s 29.1-percent unemployment rate ranks as the worst of all of the world’s major economies. The unemployment rate is now 27.6%, up by 0.9% from the first quarter in 2018. Also, the sample size for the labour survey was much smaller than usual. Unemployment, total (% of total labor force) (modeled ILO estimate) - Sub-Saharan Africa International Labour Organization, ILOSTAT database. causes of unemployment in south africa It is said that there is no smoke without fire… this saying can be implied here as well that, there are events that bring about unemployment. This is according to Statistics South Africa’s (StatsSA) quarterly labour survey [PDF] for the first three months of 2019. Maroun is among South Africa’s 8.2 million unemployed young people aged 15 to 34, representing 40.1% of the 20.4 million youth population, according to the … Among graduates in this group, the unemployment rate was … AS English Update: 24/06/2020 03:00 South Africa faced an unemployment crisis even before the virus. Unemployment figures in South Africa have recently risen sharply as the country feels the economic impact of the Covid-19 pandemic. Among graduates in this age group, the unemployment rate was 33.1% during this period compared to 24.6% in the 4th quarter of 2019 – an increase of 8.5 percentage points quarter-on-quarter. Before 2008, the GDP growth rate was 4.4% but dropped on average to 1.8% after 2008 and is projected to be 0.5% in 2020. However, there was a sharp decrease in the official unemployment rate, from 30.1% in quarter one to 23.3% in quarter two. The jobless rate has been above 20% for at least two decades, even though the economy expanded by 5% or more a year in the early 2000s. Unemployment may be classified as either a frictional, structural, cyclical, or demand-deficit type. And as far as the BRICS countries are concerned, of which South Africa represents the The agency only classifies people as unemployed if they are actively looking for work, which meant the unemployment rate was artificially …   Unemployment is a key economic indicator. The report, released on May 14, […] Data retrieved in June 21, 2020. Graduate unemployment rates are low owing to the high demand for skilled labour. Advertisement. Twenty-six years since the dawn of democracy and South Africa still has one of the world’s highest unemployment rates at 29%, accounting for around 6.7 million people. The youth aged 15–24 years are the most vulnerable in the South African labour market as the unemployment rate among this age group was 59.0% in the 1st quarter of 2020. Another worrying statistic for South Africa is the adult literacy rate, which is defined as people over the age of 20 with Grd 7 as the highest level of education is sitting at 13.8%. South Africa unemployment rate for 2019 was 28.18%, a 1.26% increase from 2018. South Africa unemployment rate for 2018 was 26.92%, a 0.15% decline from 2017. Among graduates, the national unemployment rate … According to Stats SA, the official unemployment rate increased by 1.0 percentage point to 30.1% in the first quarter of 2020 compared to the fourth quarter of 2019. Unemployment is simple enough to understand: it is an economic condition in which individuals seeking jobs remain un-hired. The youth unemployment rate currently sits at 55.2%, with almost two-thirds of unemployed South Africans falling into the youngest age bracket. Unemployment refers to the share of the labor force that is without work but available for and seeking employment. While this is slightly lower than the global youth unemployment rate of 12.4 percent, the African region has the world’s highest rate of working poverty — people who are employed but earning less than US$2 a day. South Africa youth unemployment rate for 2019 was 55.97%, a 2.18% increase from 2018.; South Africa youth unemployment rate for 2018 was 53.79%, a 0.17% increase from 2017.; South Africa youth unemployment rate for 2017 was 53.62%, a 0.04% decline from 2016. To some extent, this increase in graduate unemployment can be attributed to South Africa’s weak growth performance over the last decade. The province with the highest adult literacy rate is the Eastern Cape (20.5%), closely followed by … Indeed, between 2002 and 2007 when the average annual real GDP growth rate was 4.4%, graduate unemployment declined from 6% to 3%. Unemployment increases progressively with decreased educational levels ; and the education system is not producing the skills for the labour market. Unemployment Rates Around the World 2020. Approximately 8.2 million (40.1%) of South Africa’s 20.4 million young people aged 15 to 34 are not in employment, education or training of any sort. 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