South Africa's unemployment rate is now lower than Namibia and Nigeria

mylesillidge

mylesillidge

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South Africa’s unemployment improves — to third-highest in the world

South Africa's unemployment rate declined for a third consecutive quarter even as record power outages disrupted business and weighed on economic output.

The official jobless rate decreased to 32.9% in the three months through September from 33.9% in the previous quarter, Statistics South Africa said Tuesday in a report released in the capital, Pretoria.

[Bloomberg]
 
Official jobless rate?
There is NO way we are at 32%....
:ROFL:

Ok...I read a bit further...

Still, unemployment, according to the expanded definition, stood at 43.1%, which includes people who were available for work but not looking for a job, compared with 44.1% in the June quarter.
 
  • Haha
Reactions: rh1
We should have an international unemployed olympics where hobos from each country compete in various challenges:

1.) who can down a bottle of <R150 whiskey the fastest
2.) who can intimidate suburban middle-aged women into donating loose change the most successfully
3.) who can get the biggest grant
4.) who gets the least sick after eating out of a Lagos garbage can
 
How was the statistics manipulated this time around? Which unemployed people were excluded and what was the reason for their exclusion?
 
Improvement? Must be all the AA, BEE and transformation. We need more of that.
 
RonSwanson said:
Improvement? Must be all the AA, BEE and transformation. We need more of that.
Click to expand...
Its the way forward Ron....we need to accept that all these policies have a place in building a great South African economy...

:laugh:
 
3WA said:
We should have an international unemployed olympics where hobos from each country compete in various challenges:

1.) who can down a bottle of <R150 whiskey the fastest
2.) who can intimidate suburban middle-aged women into donating loose change the most successfully
3.) who can get the biggest grant
4.) who gets the least sick after eating out of a Lagos garbage can
Click to expand...

 
mylesillidge said:
South Africa’s unemployment improves — to third-highest in the world

South Africa's unemployment rate declined for a third consecutive quarter even as record power outages disrupted business and weighed on economic output.

The official jobless rate decreased to 32.9% in the three months through September from 33.9% in the previous quarter, Statistics South Africa said Tuesday in a report released in the capital, Pretoria.

[Bloomberg]
Click to expand...
I suddenly understand why we make massive public affairs of a bridge over a poeletjie being opened... I mean sure, some good news at last. Would have been better if it went from 33.9 (53.9) to 13.9 (33.9).
 
Oh goodie. We massaged the number and now we're only the third worst. Feels like an achievement.
 
The reading of the BusinessTech article seems to show that there was a once off event due to some sort of reclassification that can explain this.

To better understand the observed large changes in the key labour market indicators between Q2: 2022 and Q3: 2022, Stats SA said that special tabulations were done to study movements between labour market statuses.

“It was observed that a large number of persons moved from the ‘unemployed’ category to the ’employed’ and ‘not economically active’ statuses between the two quarters, which resulted in a decrease in the unemployment rate,” the stats body said.
Click to expand...
 
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