SA unemployment rate rises to 27.5% – Stats SA

South Africa’s President, Cyril Ramaphosa.

South Africa’s unemployment rate increased to 27.5% at the end of third quarter of 2018, Stats SA announced on Tuesday morning. 

The unemployment rate at the end of the second quarter of 2018 was 27.2%, meaning the rate has increased by 0.3%.

According to the Quarterly Labour Force Survey for the third quarter quarter, there are 16.4 million employed people and 6.2 million unemployed people between the ages of 15 and 64 years in South Africa.

Ahead of the release of the figures, economists had expected the rate to remain stable. “We don’t anticipate much improvement in the unemployment rate, given depressed business conditions. We are also not forecasting a material deterioration, and expect the number – 27.2% – to remain more or less stable,” said FNB. – www.fin24.com