Green shoots in jobs numbers must accelerate economic reform

12 November 2024

Today's release by Statistics South Africa (StatsSA) of the Quarterly Labour Force Survey (QLFS) for Q3:24 attests to our foremost commitment to South Africans: sustainable, inclusive economic growth and meaningful job creation.

From the previous quarter, our unemployment rate decreased marginally by 1.4% from 33.5% to 32.1%, with the Western Cape now below 20% unemployment.

On a year-on-year basis, our unemployment rate has increased by 0.2, from 32.6% in Q2:2023 to 32.8% in this quarter.

Our unemployment queue now sits at 8 million South Africans long, a decrease of 373 000.

These results, however, must be viewed more broadly.

Our youth unemployment continues to sit unacceptably high at 43.2%

In the expanded definition, which includes South Africans discouraged to seek work or economically inactive, our unemployment rate continues to sit at a high 41.9%

This is why the DA has fought strongly for pro-jobs measures to be included in the Medium-Term Budget Policy Statement, unveiled recently. These include:

- A plan to reduce Government debt to ensure Government expenditure goes to frontline services.

- No more bailouts, which have depleted our fiscus by hundreds of billions of rands.

- No new taxes and a final end to e-tolls, as our tax burden already sits too high.

- A partnership with the private sector for its capabilities and investment.

- Bold structural reforms, including breaking Eskom's power monopoly for cheaper electricity prices; allowing private sector access to freight rail to boost trade efficiency; and a plan to address weak service delivery within local governments.

We are particularly encouraged to note that construction contributed 176 000 new jobs in the last quarter.

This is a strong indication that work done by Public Works and Infrastructure is having positive impacts, and South Africa is in deed turning into a construction site.

This, together with work done in other DA ministries, such as bilateral trade agreements in agriculture, and the introduction of a Remote Work Visitor Visa and a Points-Based System for Work Visas for attracting foreign investment, will assist in positioning South Africa as a world-class destination for skilled talent and tourism, further contribution to future growth, and job creation.

Addressing our unemployment crisis is a battle the DA remains committed to.

We seek a South Africa with opportunities for all - and we will continue to fight for it.

Issued by John Steenhuisen, Leader of the Democratic Alliance, 12 November 2024