S.Africa's unemployment shrinks by 0.1% in Q3 - CNBC Africa

S.Africa's unemployment shrinks by 0.1% in Q3

Southern Africa

by Trust Matsilele 0

Unemployment shrinks by a paltry 0.1% in third quarter.

This is according to Statistics South Africa’s recent third quarter survey.

“This resulted in a slight decrease in the unemployment rate from 25.5 per cent in quarter 2: 2014 to 25.4 per cent (0.1 of a percentage point) in quarter 3: 2014,” read he statement by Stats SA.

(READ MORE: S.Africa’s unemployment up 0.3% in Q2)

“Job gains were recorded in both the formal (88,000) and informal (28,000) sectors between quarter 2 and quarter 3.”

According to Stats SA, large gains in the formal sector were observed in the construction (66,000), trade (48,000) and mining (23,000) industries.

“In the informal sector, the largest gains in employment were observed in the construction (33,000), manufacturing (14,000) and transport (10,000) industries over this period.”

Stats SA added that employment declines being observed in the transport (-25,000), community and social services (-22,000) and manufacturing (-18,000) industries.

(READ MORE: Manufacturing key to alleviating unemployment)

The Quarterly Labour Force Survey (QLFS) is a household-based sample survey conducted by Statistics South Africa (Stats SA).

It collects data on the labour market activities of individuals aged 15 years and above who live in South Africa.

However, this report only covers labour market activities of persons aged 15 to 64 years.