SA Economic Indicators: for the month of May 2013

SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Employment Updated Quarterly (Last Updated: June 2013) Expanded Public Works Programme introduced Effects of recession felt Employment remains flat 1 2 Source: StatsSA Notes: 1. Not Economically Active means students, home-makers, the sick or disabled, those too old or young to work and discouraged work seekers (those who are involuntarily unemployed) 2. Labour Force is those either in work or actively seeking paid employment and available to start work

SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Employment COMMENTARY The official unemployment rate increased to 25.2% in Q1/2013 from 24.9% in Q4/2012 That equates to an increase of 100,000 unemployed people, taking the total to 4.6 million In the expanded definition of unemployment (i.e. including those who have stopped looking for work) that rate is at 36.7% This is the first time unemployment has increased in the first quarter of the year since the inception of the StatsSA survey The labour force increased by 144,000 people in the period Both the formal and informal sector saw decreases in employment – 25,000 and 13,000 were lost respectively Employment increased however in agriculture and private households – 54,000 and 29,000 persons respectively The retail and wholesale sector lost 66,000 jobs between Q4/2012 and Q1/2013 At 13.6 million, employment is currently still lower than before the recession (14 million were employed) South Africa’s unemployment rate is the highest of the 39 emerging markets tracked by Bloomberg Note: StatsSA’s official definition of unemployment: Those between 15 and 64 years of age who are without work in the week preceding the interview, but who are looking for work and are available to take up employment or open a business.

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