South Africa’s unemploymentrate rose to a new record high of 35.3% in the fourth quarter of 2021 from 34.9% in the third quarter due to job losses mainly in manufacturing and construction, the statistics agency said on Tuesday. Moneyweb Jobs
South Africa’s unemployment rate rose to a new record high of 35.3% in the fourth quarter of 2021 from 34.9% in the third quarter due to job losses mainly in manufacturing and construction, the statistics agency said on Tuesday. Statistics South Africa said the number of unemployed totalled 7.921 million people in the October-December period, compared with 7.643 million people in the previous three months. The rate was the highest since the quarterly labour force survey began in 2008.
On the other hand, private households, trade as well as community and social services had recorded job gains. The Covid-19 pandemic exacerbated South Africa’s labour market woes last year. Before the pandemic, the economy was already suffering from high levels of joblessness as problems such as persistent electricity cuts choked growth, contributing to poverty and inequality. The finance ministry expects economic growth of 2.
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