The Quarterly Labour Force Survey (QLFS) for Q2 2024 highlights the pressing issue of youth unemployment in South Africa.
Urgent intervention needed from the Government and stakeholders to reduce high unemployment levels.
Key Statistics
Employment: Decreased by 92,000 to 16.7 million in Q2 2024.
Unemployment: Increased by 158,000 to 8.4 million compared to Q1 2024.
Labour Force: Increased by 66,000 in the same period.
Discouraged Work-Seekers: Increased by 147,000 (4.8%).
Those not economically active for reasons other than discouragement decreased by 75,000.
Resulted in 72,000 economically active persons and 16.3 million in Q2 2024.
Unemployment Rates
Official unemployment rate rose by 0.6 percentage points to 33.5% in Q2 2024.
Expanded unemployment rate increased by 0.7 percentage points to 42.6%.
Employment declines in Trade, Agriculture, and Private household industries. Increases in Manufacturing, Community and Social Service, Transport, and Mining.
Youth Unemployment
Highest rates among youth aged 15-24 years (60.8%) and 25-34 years (41.7%).
Graduates experienced a decrease in unemployment by 2.1 percentage points to 9.7%.
High unemployment rates for those with matric (35.8%) and less than matric (39.3%).
Global Context
ILO Global Employment Trends for Youth 2024: Global youth unemployment at a 15-year low of 13% in 2023.
Youth employment-to-population ratio rebounded to 35% in 2023.
Challenges in Africa
Many young adults in sub-Saharan Africa in insecure jobs.
Africa faces demographic pressures with estimated youth labour force growth.
Need for decent job creation in the next two decades.
Policy Areas for Action
Employment and Economic Policies: Boost job creation and improve access to finance.
Education and Training: Ease the school-to-work transition, prevent skills mismatches.
Labour Market Policies: Target employment of disadvantaged youth.
Entrepreneurship Promotion: Assist potential young entrepreneurs.
Labour Rights: Ensure equal treatment and rights based on international labour standards.
Lifelong Learning: Recognize its importance.
Conclusion
Implement comprehensive skills development plans to improve job prospects for those with or without matric.
Equip individuals for future labour markets, fostering economic expansion.