Cape Town has added 205 000 new jobs in the last year, more than all other metros combined.
This is according to the most recent StatsSA Quarterly Labour Force (QLF) survey, which was conducted between July and September 2023.
Also read: CoCT retains the lowest unemployment rate in South Africa
The metro’s unemployment rate fell by 3.8% year on year and remains the lowest of the eight metros using the expanded unemployment definition, which provides the most comprehensive estimate.
‘Cape Town’s economy is showing resilience, with employment levels above pre-Covid levels for three consecutive quarters,’ said Cape Town Mayor Geordin Hill-Lewis.
‘The City added more jobs year-on-year than all other cities combined, and unemployment remains the lowest of the metros by a 6.5 percentage point margin. This was driven by positive job growth in three of four quarters over the last year.’
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‘Cape Town is increasingly at the heart of national economic growth, with the latest census showing our city will also soon overtake Johannesburg as SA’s most populous city. To enable further job-creating economic growth, we are investing a record R43 billion in infrastructure over three years, alongside advanced plans to end load-shedding over time.’
The City’s investment promotion and skills development programme, according to Mayoral Committee Member for Economic Growth James Vos, continues to support growth in key industries.
‘Our programmes target emerging and high-growth industries such as the green economy, call centres, tourism, clothing and textiles. This includes a strong training support system for entrepreneurs, small business owners and employees to gain critical skills. We also offer a dedicated investment facilitation service and ease-of-doing business incentives, which have brought billions into the regional economy,’ he said.
The national unemployment rate fell to 31.9%.
This is the eighth consecutive quarter in which unemployment has decreased. The country now employs 16,7 million people, which is up from 16,4 million before the COVID-19 pandemic.
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