The marginal employment growth of 0.4% quarter-on-quarter and the expansion of South Africa’s real Gross Domestic Product (GDP) in the second quarter of 2024 are a sign of the country’s economic growth.
According to Stats SA, the community services industry contributed largely to the increase, with employment figures increasing from 10 674 000 in March 2024 to 10 716 000 in June 2024. The growth, in employment figures and the GDP, brings relief to rising debt costs and household income as the economy continues to recover from recent challenges.
Acting Director-General of Government Communication and Information System, Nomonde Mnukwa, said: “The growth bears testament to the government’s commitment made during the State of the Nation Address in February, to ensure positive economic growth that will encourage business development and provide more employment opportunities.
The positive developments mean that the government’s structural reforms are unlocking the bottlenecks and removing red tape to drive inclusive growth and job creation. South Africa’s business-friendly approach paves a positive sentiment, signalling that South Africa is becoming more and more of an investment destination”.
This growth shows commitment by government to work with social partners to stabilise the economy. The prudent economic path pursued to turn around our economy is starting to show improvement.
Enquiries:
Ms Nomonde Mnukwa
Acting Government Spokesperson
Cell: 083 653 7485
