South Africa: Desperate Times As SA Unemployment Rate Hits 11-Year High

analysis

The economy keeps reaching new milestones under President Cyril Ramaphosa's administration, but sadly not the kind to showcase to voters. Stats SA said on Tuesday 29 October that the unemployment rate inched up to 29.1% in Q3, an 11-year high.

During the third quarter of this year, South Africa's sputtering economy failed to produce any meaningful job growth, with the unemployment rate climbing to 29.1% from 29% in the previous quarter. That is a record high, surpassing any previous quarter's peak since the start of Statistics South Africa's (StatsSA's) Quarterly Labour Force Survey in 2008.

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