Cape Town’s 3,2% drop in unemployment this quarter shows City’s commitment to economic growth is bearing fruit

29 Nov 2022 in Where We Govern

Executive Mayor, Geordin Hill-Lewis very pleased to see that unemployment has decreased in Cape Town by 3,2% this quarter, according to StatsSA’s Quarterly Labour Force Survey for Q3 2022, published this morning. I believe this shows the effects of good governance in Cape Town and the City’s commitment to securing the conditions for economic growth. This is the largest quarterly decrease in unemployment in the country.

Cape Town’s unemployment now stands at 26,8% (29,5% on the expanded definition), substantially lower than the national rate of 32,9% (43,1% on the expanded definition). The metro’s unemployment rate on the expanded definition is officially the lowest of any metro in the country, meaning that there are fewer people in Cape Town who are unemployed and/or have given up looking for work.

While the downward trend in unemployment is a signal that Cape Town’s future looks bright, there is still work to be done. That’s why the City of Cape Town is investing extensively to further improve business conditions in Cape Town to promote economic growth.

By the end of this financial year, the City will have spent R10 billion on large infrastructure projects that include water and sanitation, transport, energy, and housing. Quality infrastructure is crucial for the success of every business. Businesses in Cape Town already experience the least amount of economic devastation due to load-shedding in the country. This is set to get even better as the City’s ending load-shedding programme continues to progress.

Unemployment is a contributing factor to almost every other social ill, from crime to drug use and from homelessness to family breakdown. Poverty affects everyone, if we want to build a better future for ourselves and our children, we have to address the high levels of poverty in our society.

The City believes that ending poverty in Cape Town requires meaningfully faster economic growth driven primarily by the private sector. Growth means more jobs and higher wages over time. We will continue to prioritise making Cape Town the easiest place to do business on the African continent, and ensuring businesses have what they need to flourish.