Statistics South Africa revealed that the country’s official unemployment rate stands at 32,7%, this indicates that there has been a consistent decrease.
The government agency has also shared that the total number of persons that were employed 15.9 million, the formal sector recorded an increase in employment of 143 000 whilst the informal sector recorded a loss in employment of 15 000 between the third quarter and fourth quarter of 2022
Sectors leading employment gains were those in finance, private households, trade and transport while jobs were lost in community and social services, agriculture and construction.
In 2021, the country reached its highest unemployment rate, but the recent statistics show an improvement.
The SRD grant reaches approximately 7.8 million people, and recently, the Director General for Social Development, Linton Mchunu stated:
There has been a decline in the number of beneficiaries receiving grants and 10% of the beneficiaries have migrated into employment.
The department is working on linking SRD grant beneficiaries to job opportunities, but this effort will need other departments to come on board and assist in absorbing these beneficiaries, said Dr. Maureen Mogotsi who is the Acting Chief Director of Social Assistance.
Mogotsi revealed that research shows that the grant is being used for basic needs and it is through the SRD grant that the department is trying to ensure that basic needs of beneficiaries are met.
It is for this reason that the Department of Social Development continues to look for ways of making this grant permanent, although some economists have pointed out that this might be difficult to achieve.