UNEMPLOYMENT RATE HIKES TO 35.4%, BUT ...

MBABANE – It is good and bad news for the country, in terms of employment and unemployment opportunities.

This follows the findings of the Integrated Labour Force Survey 2023, which was officially released by the Minister of Labour and Social Security, Phila Buthelezi. According to the survey, Buthelezi said the country’s employment creation yielded some positive results, with the employed population increasing from 241 933 in 2021 to 260 356 in 2023.

Announcing the latest key finding results, Buthelezi said the working age population increased from 790 862 to 793  614, leading to an increase in the labour force participation rate, hence a decline in those who were currently out of the labour force.

Employment

Buthelezi said in terms of employment creation, the country had yielded positive results, as the employed population increased from 241 933 to 260 356. The minister highlighted that the economic sectors that contributed to the increase in employment were; agriculture, construction, manufacturing, transport, financial and insurance activities.
Buthelezi attributed the increase to the informal sector, adding that there was a drastic decreased in the formal sector, of about 14.2 per cent.

He stated that it was better to be in the labour force than to be out.  Buthelezi said the absorption rate, which was the employment-to-population ratio, had increased from 30.6 per cent to 32.8 per cent, which was a sign that the economy was improving.

On the other hand, he stated that the unemployment rate had also increased by 2.1 per cent from 33.3 per cent, to 35.4 per cent. The minister said the Shiselweni Region was leading in terms of the unemployment rate, standing at 42.7 per cent, followed by Hhohho Region that recorded 39.9 per cent. Manzini and Lubombo regions recorded a tie, standing at 30.9 per cent.

According to the minister, in terms of the unemployment rate, females recorded the highest number, sitting at 37.6 per cent, while males were at 33.1 per cent. He said the labour market was in a crisis and there was a need to get the economy working again and reverse the gloomy picture painted by the figures.

The minister stated that the figures showed that the country had a huge task ahead in order to turn the tide. Meanwhile, it has been reported that youth unemployment rate has decreased from 58.2 per cent to 56 per cent.

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