South Africa’s jobless rate slid slightly in the third quarter from a three-year high, Statistics South Africa said Thursday.
The unemployment rate fell marginally to 25.4 in the September quarter from 25.5 percent in the second quarter. The 25.5 percent was the highest since the second quarter of 2011.
At 5.2 million, unemployment decreased by 3,000 from the second quarter but increased by 271,000 from last year. At the same time, employment increased by 22,000 from a quarter ago.
The expanded unemployment rate which relaxes the requirement of job search to be classified as unemployed increased by 0.2 of percentage point to 35.8 percent in the third quarter.
The material has been provided by InstaForex Company – www.instaforex.com