Market News
South Africa’s unemployment rate edges up, highlighting key voter concern - REUTERS
BY Kopano Gumbi
PRETORIA, Nov 10 (Reuters) – South Africa’s unemployment rate rose marginally in the third quarter, data showed on Tuesday, underlining a key concern for voters at last week’s municipal elections when the African National Congress received a drubbing.
Women, young people and Black South Africans remain especially vulnerable to unemployment.
Statistics South Africa figures put the official jobless rate at 33.7%, up from 33.6% in the second quarter.
Opinion polls showed high levels of unemployment were one factor contributing to voter frustration with the ANC, whose share of the vote fell sharply in the local government election.
The ANC-led coalition government formed after the 2024 national election has struggled to boost job creation despite prioritising economic reforms and achieving a modest pickup in growth.
South Africa’s official unemployment rate has remained above 30% for six years and is among the highest in the world.
Employment declined in three sectors in July-September — private households, agriculture and construction — while finance, manufacturing and mining were among the sectors that added jobs, the statistics agency said.
An expanded definition of unemployment, which includes people discouraged from seeking work, rose to 44.0% in the third quarter from 43.8% in the previous quarter.
