President Cyril Ramaphosa says the latest employment figures – which show a decline in the unemployment rate for the second quarter of 2021 – are cause for cautious optimism in the recovery of the economy.
The President was addressing the nation through his weekly newsletter on Monday morning.
The statistics show a decline in unemployment from 34.5% in the first quarter of 2022 to 33.9%.
"Over the last few years, South Africans have had to contend with slow growth and rising unemployment. This has been worsened by a devastating pandemic, an attempted insurrection unrest in July last year, and, earlier this year, severe floods in parts of KwaZulu-Natal, Eastern Cape and North West.
"Amidst all this, the energy crisis has loomed large, causing damage to the economy and hardship for households and businesses. Yet, even amidst these formidable challenges, our society and economy has proven to be resilient. And indications are that our economy is showing encouraging signs of recovery," President Ramaphosa said.
The statistics also indicate some 648 000 job gains in that same period and according to the President while this is to be welcomed, "much more needs to be done" to slow unemployment even further.
The President added that employment gains show that government's Economic Reconstruction and Recovery Plan – which focuses on mass public employment, economic reform and infrastructure development – is making headway in creating jobs.
"With infrastructure development and...
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