SA unemployment rate soars to 27,6%

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    According to data released by Stats SA, South Africa’s unemployment rate has risen to its highest level since the third quarter of 2017 to 27.6% at the end of the first quarter of 2019. The figures were revealed on Tuesday.

    The figure is up half a percentage point from the end of the fourth quarter of 2018

    The number of employed people has decreased by 237,000 to 16.3 million in the first quarter of this year, while the number of those unemployed has increased by 62,000 to 6.2 million from the fourth quarter of 2018.

    The 0,5% increase mounts more pressure on South Africa’s economy with the youth unemployment rate now standing on 55%