World Economy

34% Jobless in Namibia

34% Jobless in Namibia34% Jobless in Namibia

Namibia’s unemployment rate increased to 34% of the working population last year from 28.1% in 2014, the last time a labor force survey was conducted, the Namibia Statistics Agency said on Wednesday, Reuters reported. The jobless rate edged closer to the all-time high of 37.6% seen in 2008 during the global financial crisis. The agency said the 6.1 basis point increase in the unemployment figure was mainly due to a prolonged drought that has gripped the southern African country since 2015. Partially due to the drought, as well as a sharp downturn in the construction and commodities sectors, Namibia’s economy expanded by a meager 0.2% in 2016.

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