Latest News

Cosatu Not Surprised Over Increased Unemployment Rate

Cosatu - Cosatu Not Surprised Over Increased Unemployment Rate

The slight increase in South Africa’s unemployment rate has been met with little surprise, with calls for more action from government to create jobs.

The unemployment rate has hit its highest level in 11 years, coming in at 29.1% in the third quarter.

This is a slight increase from the quarter before.

Stats SA said that 6.7 million people were without jobs in the three months to the end of September.

Cosatu’s Sizwe Pamla said that nothing had changed when it came to job creation.

“We have stopped being surprised at all because very little has been done to kickstart the economy.”

Nedbank economist Isaac Matshego said that change was needed urgently.

“It is in line with the weakness of the economy and it highlights the need to advance structural changes which are going to improve job creation capacity.”

The expanded definition of unemployment, which included people who had stopped looking for work, was 38.5% in the third quarter, unchanged from the period before.

EWN

The post Cosatu Not Surprised Over Increased Unemployment Rate appeared first on iAfrica.com.

Leave a Reply

Your email address will not be published. Required fields are marked *