KZN Provincial Treasury THE KWAZULU NATAL LABOUR MARKET – A PERFORMANCE AND TREND ANALYSIS

LABOUR MARKET DEFINITIONS
 

The following definitions are of relevance and significance to the labour market.

Employed Are persons aged between 15-64 years, during the reference week; did any work for at least one hour, or had a job or a business but were not at work (temporarily absent).
 

Labour force

Comprises all persons who are employed plus all persons who are unemployed.

Labour force participation rate The labour force participation rate is the percentage of working-age persons in an economy who:

Not economically active population

Persons aged 15-64 years who are neither employed nor unemployed in the reference week.
 

Unemployment rate

It is the proportion of the labour force that is unemployed.
 

Long term unemployment

Persons in long-term unemployment are those individuals among the unemployed who are without work and trying to find a job pr start a business for one year or more.
 

Underutilised labour

Comprises three groups as follows: persons who are underemployed, people who are unemployed and people who are discouraged.

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Clive Coetzee
General Manager: IMES Unit
Economist
clive.coetzee@kzntreasury.gov.za
033 8974538