Cape Town, best performing metro, continues to lower unemployment and keeps Moody’s credit rating
20 February 2018
Today, I am pleased to reflect on the city’s encouraging economic results where 89 000 more Cape Town residents were employed in the fourth quarter of 2017 than during the same period in 2016. In addition, Cape Town has the lowest official unemployment rate, at 21,7%, of all the metros in South Africa.
Cape Town’s growing employment is a testament to the City’s efforts to create an enabling environment for businesses to invest and to create new jobs.
The recent Quarterly Labour Force Survey 2017 for the fourth quarter, from 1 October to 31 December 2017, shows that Cape Town’s strict unemployment rate is far below the national strict unemployment rate of 26.7%.
Cape Town’s job creation efforts continue to yield positive results as our unemployment rate is lower than all the other major cities including: eThekwini (21,9%), Tshwane (26.9%), Johannesburg (28.2%), Ekurhuleni (33.6%) and Nelson Mandela Bay (36.9%).