Jobs
South Africa Unemployment Rate Rises to Two-Year High
- Unemployment rate rises to 33.5% in second quarter vs 32.9%
- Trade and agriculture sectors shed most jobs, employment fell
This article is for subscribers only.
South Africa’s unemployment rate unexpectedly rose in the second quarter to the highest level since 2022, driven by job losses in the trade and agriculture sectors.
The unemployment rate advanced to 33.5% in the three months through June compared with 32.9% in the previous quarter, data released by Statistics South Africa in the capital, Pretoria showed on Tuesday. The median estimate of three economists surveyed by Bloomberg was for the jobless rate to tick down to 31.8%.