COSATU response to employment statistics
The Congress of South African Trade Unions is relieved by the news that there was a small reduction, of 259 000, in the number of those unemployed in the fourth quarter of 2010.
According to Statistics South Africa, unemployment fell from 25.3% in the 3rd quarter of 2010 to 24% in the fourth quarter. A year earlier, the jobless rate was 24.2%.
The number of employed persons increased by 1.2% from the third to fourth quarter, from 12.97 million to 13.1 million, but was still 0.9% lower than the previous year's level.
These are the figures which exclude those who are deemed to have given up looking for work and a very worrying statistic is an increase of 5.8% in the number of ‘discouraged workers' who are no longer seeking employment.
It will therefore be important to see the expanded unemployment figure which includes these workers, which stood at 36.6% at the end of the third quarter to assess the significance of today's figures.