Cape state
Unemployment rate in South Africa – just under 35 percent
The effects of the corona restrictions on the South African economy are devastating. Photo: Andre M. Chang / ZUMA Press Wire / dpa
© dpa-infocom GmbH
Jobs are falling away in South Africa. Youth unemployment is particularly high in Africa’s second largest economy.
In view of strict corona restrictions, the unemployment rate in South Africa has reached a new high.
In the third quarter, according to the national statistics bureau Stats SA, it climbed from Tuesday to 34.9 percent – an increase of 0.5 percentage points over the previous three months.
The number of people who gave up looking for a job is not recorded – according to the information, it increased by almost a million. Youth unemployment is particularly high in Africa’s second largest economy at 66.5 percent. According to Stats SA, people up to 24 years of age make up almost 22 percent of the working population.
The Cape State, with its high unemployment and enormous social inequality, is currently experiencing the devastating effects of the corona restrictions on the economy, which was already in recession before the virus crisis. South Africa has been struggling with structural economic problems and an unreliable power supply for years. The strong focus on the raw materials sector is also problematic.
The latest restrictions following the discovery of the Omikron corona variant now threaten the revival of the important tourism sector, which contributed almost ten percent to national value added and secured many jobs before the pandemic.