Stats SA is expected to release the final Quarterly Labour Force Survey (QLFS), which reflects job numbers between July and September this year.
The third quarterly results from August showed a slight increase in jobs created in the community and social services sector, followed by trade, finance and construction.
The third quarterly survey revealed that 648 000 people got hired in the second quarter of 2022, following an increase of 370 000 hires from the first quarter.
Unemployment figures still too high
The largest increase in new hires was recorded in community and social services (276 000), followed by trade (169 000), finance (128 000) and construction (104 000).
Decreases in employment were recorded in the manufacturing (73 000) and transport (54 000) sectors.
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The largest employment increases were recorded in Gauteng, followed by KwaZulu-Natal, Mpumalanga and Eastern Cape.
Employment losses were recorded only in the Northern Cape (down by 3 000) during the same period. Limpopo recorded the largest significant quarter-to-quarter increase in employment of 9,9%.
The majority of employees have permanent employment contracts.
While May’s QLFS showed that unemployment went down marginally, 11.7 million people were still unemployed in South Africa.
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The economy won’t grow even with greater employment stats
But job creation doesn’t necessarily translate to increased economic growth.
Efficient group’s chief economist Dawie Roodt told SAFM’s Elvis Preslin that the economy could not grow faster than the predicted 1.5-2%.
Roodt said South Africa’s electricity shortage crisis is a major contributing factor.
“Unemployment is not going to come down until the economy grows, and that means that we will have tens of millions of people that will depend on the state for an income, as is currently the case.
There are dark predictions that the country’s unemployment rate could reach 40% by the decade’s end.
Should this come to pass, millions of adults would become economically inactive, increasing the risk of societal breakdown and stability risks associated with protests and unrest.
Compiled by Narissa Subramoney
Additional reporting by Devina Haripersad and Ina Opperman
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