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Financial News: South Africa Jobless Rate Rises In Q1

South Africa Jobless Rate Rises In Q1

05/14/2019 - 07:26:00 (RTTNews)

(RTTNews) - South Africa's unemployment rate increased in the first quarter, data from Statistics South Africa showed Tuesday.

The jobless rate rose to 27.6 percent in the first quarter from 27.1 percent in the fourth quarter of 2018.

The number of employed persons decreased by 237,000 to 16.3 million and unemployment increased by 62,000 to 6.2 million compared to previous quarter, resulting in a decrease of 176,000 in the number of people in the labor force.

Employment decreased in all four of the sectors in the first quarter, with the Formal sector recording the largest employment losses of 126,000, followed by the Informal sector, the statistical office said.

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