South Africa unemployment hits record 29 percent

au.news.yahoo.com

- au.news.yahoo.com | 3 weeks ago

South African President Cyril Ramaphosa has vowed to halve the country's unemployment rate in five years, but it has continued to riseMore Joblessness in South Africa has reached a record 29 percent, the statistics office said Tuesday, piling pressure on President Cyril Ramaphosa's administration after it won May elections vowing to halve unemployment.

It marks the lowest level since the country's quarterly labour force survey was introduced 11 years ago and is just the latest blow to Africa's most developed economy, which has suffered through mass layoffs, rolling blackouts and contracting gross domestic product (GDP). The country's opposition parties quickly lashed out at Ramaphosa and the ANC, saying the country had an "unemployment catastrophe" and warning that the situation was getting worse.

The country's statistics agency StatsSA said in its quarterly report that "the unemployment rate increased by 1.

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