Jobs
South African Unemployment Rate Jumps as Trade Sheds Jobs
A worker prepares an automobile part at a manufacturing plant in Durban.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s unemployment rate rose more than expected in the first quarter as the trade and construction sectors shed jobs.
The jobless rate increased to 32.9% in the three months through March, compared with 31.9% in the prior quarter, according to data released by Statistics South Africa in the capital, Pretoria, on Tuesday. The median estimate of four economists in a Bloomberg survey was 32.6%