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According to data from the National Statistics Agency, the unemployment rate in the first quarter rose 0.8 points to 32.9% from 32.1% in the fourth quarter, and the number of unemployed people increased for the second consecutive year. .
The number of unemployed people increased by 330,000 to 8.2 million in the first quarter of this year, while the number of employed people increased by 22,000 to 16.7 million.
Five years ago, as the country headed to the polls, there were 6.7 million unemployed and an unemployment rate of 29%, according to statistics from the National Statistics Office. The ANC made job creation its top priority in 2019, during which time the unemployment rate rose 22% to 8.2 million, and the vote will take place in just over two weeks.
According to several opinion polls, the ANC is expected to lose its majority for the first time.
According to the Bureau of Statistics, formal sector employment rose by 56,000 people in the first quarter, while informal sector employment fell by 100,000 people over the same period.
Job losses were recorded in community services, construction, finance and utilities. Sectors that showed employment growth included trade, manufacturing, private households, transportation, agriculture, and mining.
According to the expanded definition, the unemployment rate also rose by 0.8 points in the first quarter to 41.9%.
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“Young people (15-34 years old) remain in a vulnerable position in the labor market. Results for the first quarter of 2024 show that the total number of unemployed young people increased by 236,000 to 4.9 million; The number of employed people decreased by 7,000.As a result, the youth unemployment rate increased by 1.3 percentage points, from 44.3% in the fourth quarter of 2023 to 45.5% in the first quarter of 2024,” the statistics agency said.