S. Africa’s Q3 unemployment rate rises to record high level since 2008 – Johannesburg News

This was the best level of unemployment since 2008, Xinhua news company reported.
“The number of people in work fell by 660,000 to 14.3 million in the third quarter of 2021,” the Stats SA added on Tuesday. The unemployment rate underneath the expanded definition, which incorporates individuals who have given up on the lookout for work, rose 2.2 per cent to 46.6 per cent over the identical interval.
The report confirmed that seven of eight industries within the formal sector skilled employment losses excluding finance the place employment elevated by 138,000.
The largest lower in employment was recorded within the commerce sector, adopted by group and social companies, building and personal households.
The main commerce union federation, Cosatu, mentioned the report painted a bleak image of unemployment within the nation.
Sizwe Pamla, spokesperson for Cosatu, mentioned that regardless of the easing of the cruel lockdown measures, there has not been a lot enchancment in job creation.
“This is at the heart of the country’s non-employment growth trajectory, which needs to be addressed by rebuilding the South African economy,” Pamla added.
Disclaimer: This story is auto-aggregated by a pc program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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