Page 9 - RMI Annual Report 2022

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Unemployment
Unemployment continues to be a major concern in South Africa. In the second quarter of 2022, the figure
stood at 12.28 million (slightly lower than 12.45 million in Q1 due the expanded definition).

Results from 2015 - Q2 2022:

Youth unemployment Total youth expanded Unemployed share
(15 - 34 yrs) increased: unemployment share declined: (35 - 54 yrs) increased:

5.7m 7.3m 66% 59% 31% 37%

Age Composition of the142016 2017 2018 2019 2020 2021 2022
Unemployed according to the12
Expanded Definition (Millions)10

Source: Unisa Momentum Consumer Financial Vulnerability Index Q2 2022.8
6
4
2
-

2015

55 - 64 years 45 - 54 years 35 - 44 years 25 - 34 years 15 - 24 years

Risk factors affecting consumer finances in Q2 2022

Fuel prices 25% 50% 75% 100%
Food prices Lowest risk Medium risk Highest risk
Loadshedding
Rising interest rates
Low economic growth
Political instability and corruption
Municipal tariffs
Unemployment, poverty & inequality
The Rand exchange rate
Municipal services (water, electricity etc.)
Personal income tax rates
Floods in KZN and elsewhere
War between Russia and Ukraine
Business confidence

COVID-19

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