South Africa’s unemployment rate fell for the first time in 2024, now at 32.1 percent in the third quarter—a welcome drop from the previous quarter’s 33.5 percent, as reported by the nation’s official statistics agency on Tuesday.
Despite being Africa’s most industrialized and economically robust nation, South Africa has long grappled with persistently high unemployment levels, which disproportionately impact women and young people.
In a country where many face bleak job prospects, particularly those entering the workforce for the first time, the unemployment crisis is a pressing concern.
According to Statistics South Africa’s Quarterly Labour Force Survey, the number of people employed increased by 294,000 during the quarter, while the number of unemployed individuals dropped by 373,000. Key industries including community and social services, construction, trade, mining, and transport all saw job gains, providing much-needed relief in sectors vital to South Africa’s economy.
This is the first recorded drop in joblessness since the third quarter of 2023, when unemployment was at 31.9 percent.
Youth unemployment, which remains a significant issue, also saw a slight decline, dropping from 46.6 percent in the second quarter of 2024 to 45.5 percent in the third quarter.
The World Bank has noted that South Africa’s economy is burdened by structural challenges and sluggish growth, factors that hinder the government’s capacity to address severe levels of inequality and poverty.
Poverty affects over 60 percent of the population, making it one of the nation’s most critical socioeconomic challenges.
