
Days before the general election, South Africa's government reported on Monday that unemployment had risen above 25 percent for the first time in almost a year. Statistics South Africa said the rate had increased by 1.1 points to 25.2 percent in the first quarter of this year. Mass unemployment has been a central issue ahead of Wednesday's general elections, with all major parties making promises to create jobs a key plank of their manifestos. President Jacob Zuma, who is expected to win a second five-year term, on Sunday vowed to make the transfer of economic power to non-white South Africans a priority if re-elected. Although the official unemployment rate hovers around 25 percent, that data does not include millions more who gave up looking for work. Out of a working-age population of 35 million, only 15 million South Africans are employed. That has led to widespread social unrest, and fuelled an estimated 30 protests across the country each day over poor government services. For much of 2013 the official unemployment rate had trended downward, amid mass government hiring. While the jobs gains were modest, the ruling African National Congress heralded the figures as a sign the economy is on the right track. Economists said Monday's figures tell a different picture. "Today's figures provide further evidence that local economic performance is still well below potential," said Nedbank analysts.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor