Speeches from the Minister of the Economic Development Department | 2009
Minister Ebrahim Patel, Minister of Economic Development, Republic of South Africa
Invited by: International Centre for Trade & Sustainable Development & Gordon Institute of Business Science (GIBS), University of Pretoria
Venue: GIBS Campus- Illovo, Johannesburg
Date: Monday, 23 November 2009
Conference: Roadmap to KwaZulu Natal Economic Recovery
Fundamentals of Our Economic Policies and the National Government's Response to the Crisis, Speech by Minister of Economic Development, Ebrahim Patel
6 August 2009
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EDD ANNUAL REPORT 2013 | 14
EDD Knowledge Networks
Unemployment rate 25.4%
Absorption rate 42.6%
Participation rate 57.1%
Formal sector non-agriculture employment (q\q %) 1.5%
Formal sector non-agriculture gross earnings (q\q %) 4.6%
"Quarterly changes reflect an increase in employment (22 000) and a decrease in unemployment (3 000). This resulted in a slight decrease in the unemployment rate from 25,5% in quarter 2: 2014 to 25,4% (0,1 of a percentage point) in quarter 3: 2014.
Job gains were recorded in both the formal (88 000) and informal (28 000) sectors between quarter 2 and quarter 3. Large gains in the formal sector were observed in the Construction (66 000), Trade (48 000) and Mining (23 000) industries. In the informal sector, the largest gains in employment were observed in the Construction (33 000), Manufacturing (14 000) and Transport (10 000) industries over this period.
Employment declines were observed in the Transport (-25 000), Community and social services (-22 000) and Manufacturing (-18 000) industries."
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