Cape Town has maintained the lowest broad unemployment rate of all SA metros, adding 43 000 new jobs between October and December 2023. Employment increased by 7,4% year-on-year in Cape Town, according to the latest Quarterly Labour Force Survey from Statistics South Africa for the fourth quarter of 2023.
A record 1,788 million people are now employed in Cape Town, the highest number since Stats SA first published the redesigned QLFS in 2008.
‘A total of 363 000 jobs have been created in Cape Town since the current local government term of office began in November 2021. I am so encouraged by this. All we do is aimed at growing the economy faster so we can lift more people out of poverty and into work over time. These numbers show we are on the right track.
‘Many of these 43 000 new jobs are Capetonians who have never worked before. Imagine the life changing transformative power of being able to work and earn an income, for the first time. It is really wonderful to see this happening in our city.
‘Cape Town’s economy is growing faster, with this city at the heart of national economic growth. We will keep up this momentum by spending R43bn on infrastructure over three years. This investment is more than Joburg and Durban combined, and is expected to directly create 135 000 jobs, aside from the many other economic benefits that come with improved infrastructure,’ said Cape Town Mayor Geordin Hill-Lewis.
Employment increases in Cape Town were particularly high in the industries of trade and finance in the fourth quarter of 2023.
Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth, said these gains were in line with targeted campaigns and initiatives that drove opportunities in tourism (which StatsSA records in the ‘trade’ industry category) and business process outsourcing (in the finance category).
‘Cape Town saw a massive surge in travellers in December with our airport processing a record 317 000 two-way international passengers through the international terminal in those 31 days. An estimated R1,9 billion in foreign direct tourism spend was injected into the provincial economy in that month, with the bulk of it coming into Cape Town. But it’s also important to remember that tourism is a sector that positively impacts numerous others such as retail and transport downstream,’ said Alderman Vos.
The City’s flagship workforce development programme, Jobs Connect, played a central role in a campaign which ran from September to December to help 10,000 Capetonians find employment opportunities.
‘The campaign secured 12,914 employment opportunities for Capetonians. The bulk of the jobs created-– 9,147 are in call centres across the metro and came via CapeBPO, the City’s Special Purpose Vehicle in the industry,’ said Alderman Vos.
