World Economy

South Africa Jobless Rate Rises

South Africa Jobless Rate Rises  South Africa Jobless Rate Rises

South Africa’s unemployment rate rose to 26.7% of the labor force in the first quarter of this year from 24.5% in the fourth quarter of 2015, data from the statistics office showed on Monday, Mineweb reported. In its quarterly labor force survey which polls households, Statistics South Africa said this amounted to 5.714 million people without jobs in the first quarter compared with 5.2 million previously. Analysts polled by Reuters expected the unemployment rate to edge up to 25.3% in the first quarter. The expanded definition of unemployment, which includes people who have stopped looking for work, was at 36.3% in the first three months of the year, versus 33.8% previously. The figure is the highest in the history of the survey which began in 2008, the head of the statistics agency said. “The economic climate is not helping,” said Statistician-General Pali Lehohla, referring to an economy still struggling to grow after a 2008-09 recession slashed about a million jobs.