Zim’s unemployment rate reaches 20%
ZIMBABWE currently has a paltry 20% unemployment rate on the strength of the application of the strictest definition of unemployment, the fourth quarter of 2021 Labour Force Survey conducted by the Zimbabwe National Statistics Agency has revealed .
The report also shows that a total number of employed persons was estimated at 3 million with the expanded unemployment rate being estimated at 47%.
Accordingly, the share of formal (non-agriculture) sector employment was estimated at 30% with the share of employment in the informal (non-agriculture) sector being estimated at 46%.
The share of employment in the household sector was estimated at 4% and the share of employment in the agriculture sector was estimated at 20%.
Speaking at the occasion to launch the Labour Ministry’s secretary, Simon Masanga said the statistics were key in understanding the market dynamics.
“Labour market statistics are important in the measurement of the economy. QLFS has an advantage of providing high frequency labour force data for evidence-based decision making in respect of the labour market situation obtaining in the economy.
“The survey conforms well to the country needs of quarterly GDP as it provides up to date labour statistics for its compilation.
“As Zimbabwe we have found our position in the league of leading statistical offices that produce labour statistics more frequently since the introduction of the QLFS during the third quarter of 2021. The users of labour market statistics are now well provided in terms of statistical information unlike during the five-year cycle era,” he said.