Just when you thought South Africa’s job market couldn’t get any worse, it’s gone and proved us all wrong. And true to form, women and the youth are once again drawing the shortest end of the stick.
The latest Quarterly Labour Force Survey Q2 2024 from Stats SA paints a bleak picture – the unemployment rate has shot up to a staggering 33.5% in the second quarter of 2024.
If the cover image confuses you, it’s because I’m going with a post-apocalyptic vibe here, to match the mood. Let’s break down this economic horror show, shall we?
SA unemployment rate: Youth apocalypse
If you’re young and looking for work, you might want to sit down for this: A jaw-dropping 60.8% of people aged 15 to 24 are unemployed.
🧵 South Africa’s official #unemployment rate increased by 0,6 of a percentage point to 33,5 % in Q2:2024 compared to Q1:2024.
— Stats SA (@StatsSA) August 13, 2024
Read more here: https://t.co/Migk1JcPxG
#StatsSA pic.twitter.com/7gMUcPHxk6
That’s right… Nearly two-thirds of our youth are sitting idle, their potential wasting away. It’s not much better for the 25-34 age group, with 41.7% twiddling their thumbs in unemployment.
Over a third (35.2%) of young people aged 15 to 24 are not in employment, education, or training. That’s 3.6 million young souls adrift in a sea of joblessness.
If this doesn’t scream “lost generation,” I don’t know what does.
Women, you’re on your own
The job market has not been kind to women in South Africa.
The number of unemployed women skyrocketed by 93,000 to a whopping 4.1 million. Meanwhile, 28,000 employed women lost their jobs.
The result? The unemployment rate for women climbed from 35.2% to 35.8%.
Using the expanded #unemployment rate definition, gender disparity persists throughout all population groups.
— Stats SA (@StatsSA) August 13, 2024
Read more here: https://t.co/Migk1JcPxG#StatsSA #WomensMonth2024 #WomensMonth pic.twitter.com/3deg4631cf
It’s like the job market is playing a cruel game of “last woman standing.”
Racial divide deepens
If you thought we were making progress on inequality, think again.
The Black African population group is bearing the brunt of this job massacre, with an unemployment rate of 37.6% – well above the national average.
Compare that to the 7.9% unemployment rate for whites, and you’ve got yourself a powder keg of social tension just waiting to explode.
Food for thought: The gap between white men’s unemployment rate and that of Black African women is likely more than 30 percentage points.
The gender gap is evident across all races, with women consistently facing higher unemployment rates than men of the same race.
But education is still okay, right? RIGHT?
Gone are the days when a degree guaranteed you a job. If it ever has.
While the graduate unemployment rate decreases to 9.7%, it’s still a far cry from full employment.
And if you’ve only got a matric? Good luck – you’re looking at a 35.8% unemployment rate.
Didn’t finish high school? It’s even worse at 39.3%.
The great provincial job shuffle
It’s not all doom and gloom – but only if you live in Gauteng, Limpopo, or the Eastern Cape, that is.
These provinces actually saw job growth.
NW (54,2%) recorded the highest expanded #unemployment rate in Q2:2024, followed by EC (49,7%).
— Stats SA (@StatsSA) August 13, 2024
Read more here: https://t.co/Migk1JcPxG#StatsSA pic.twitter.com/32S1IulwGe
But if you’re in the Western Cape, Mpumalanga, or KwaZulu-Natal, you might want to start polishing that CV. These provinces saw jobs vanish faster than you can say “economic crisis.”
So, what’s the takeaway from this statistical nightmare?
South Africa’s job market is on life support, and it’s women, youth, and historically disadvantaged groups who are paying the price.
South Africa needs drastic action, and fast.
Image: Stats SA. Full image here.
