South Africa’s Joblessness at 13-Year High

South Africa’s unemployment rate rose to the highest in over a decade in the third quarter as more people started looking for employment, Yahoo reported. The unemployment rate rose to 27.1% in the quarter through September, from 26.6% in the previous three months, Statistics South Africa said in a report released on Tuesday in Pretoria. That is the highest unemployment rate since 2003, according to data from the International Monetary Fund. The median of six economist estimates compiled by Bloomberg was for unemployment to stay unchanged from the second quarter. The number of people without jobs rose by 239,000 to 5.9 million while those employed increased by 288,000 to 15.8 million.