South Africa Sheds Jobs, Denting Economic Recovery
This article is for subscribers only.
South Africa’s unemployment rate, the highest of 62 countries tracked by Bloomberg, was little changed in the second quarter as the economy failed to create jobs, undermining the strength of the recovery.
The jobless rate increased to 25.3 percent from 25.2 percent in the first quarter, Statistics South Africa said in a report released in Pretoria today. The number of people with work fell by 61,000 to 12.7 million.