South Africa’s unemployment rate rose to 32.9% in the first quarter of 2023 from 32.7% in the final quarter of last year, data showed on Tuesday. Moneyweb UnemploymentRate
South Africa’s unemployment rate rose to 32.9% in the first quarter of 2023 from 32.7% in the final quarter of last year, data showed on Tuesday. Statistics South Africa said the number of unemployed people totalled 7.933 million in the January-March period, from 7.753 million people in the last three months of 2022. Read: SA suffers from ‘largely self-inflicted wounds’ – Kganyago According to the expanded definition of unemployment which includes those discouraged from seeking work, 42.
Read: Expensive credit piles on pressure South Africa recorded four consecutive quarters of job gains in 2022 as the country continued its economic rebound following the Covid-19 pandemic. However, recovery efforts are being thwarted by the lack of consistent electricity supply as utility Eskom implements worst power outages on record due to its inability to produce enough megawatts to meet demand.