- NMB Sectors
Business Chamber is encouraged by drop in unemployment figures in Metro in light of tough economic climate
The Nelson Mandela Bay Business Chamber welcomes Statistician-General Risenga Maluleke’s release of South Africa’s bittersweet unemployment figures for the third quarter of 2019.
While the picture is gloomy considering unemployment figures nationally have risen to a new worst, we are, however, encouraged by the drop in unemployment figures for the Nelson Mandela Bay region.
The unemployment rate for NMB dropped by 1.5 percentage points in the third quarter, bringing the figure to 34.9%, compared to 36.4% during the same period in 2018.
The Bay had 355 000 employed people for the period under review, compared to the same period in 2018 which had a recorded figure of 338 000.
This comes on the back of thousands of jobs that have been lost in South Africa’s manufacturing, construction, trade and utility sectors. According to the Quarterly Labour Force Survey released today, South Africa’s unemployment rate increased by 0.1 percentage points to 29.1% during the third quarter for 2019, now at its highest level since the first quarter of 2008.
The official number of unemployed people has increased from 4.5 million in 2009 to 6.7 million currently.
The Business Chamber is encouraged by the positive results as they confirm our members’ efforts in creating much-needed jobs in a very tough economic economic climate.
However, we are concerned that the economic growth still lags far behind desirable levels.
We will continue to engage all relevant stakeholders to find innovative ways of impacting unemployment as part of our long-term strategy around employment creation and sustainable economic growth.
Chief Executive Officer