South African Unemployment Rate Jumps as Trade Sheds Jobs

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%