South
Africa, which has the highest unemployment rate of more than 40
emerging markets tracked by Bloomberg, lost 28 000 nonfarming jobs in
the second quarter.
Employment
in the formal, nonagricultural industries fell by 0.3% to 8.4-million
jobs compared with the first quarter, Pretoria-based Statistics South
Africa said on its website on Tuesday. The data is based on a survey of
companies registered to pay taxes.
Employment
in the formal, nonagricultural industries fell by 0.3% to 8.4-million
jobs compared with the first quarter, Pretoria-based Statistics South
Africa said on its website on Tuesday. The data is based on a survey of
companies registered to pay taxes.
Africa's
largest economy grew at an annualised 3% in the second quarter, up from
0.9% in the first quarter, as manufacturing output and finance, real
estate and business services expanded, the statistics office said on
August 27.
The Reserve Bank has kept its benchmark repurchase rate at 5% for more
than a year and will likely hold the rate on Thursday, according to 19
economists surveyed by Bloomberg.
The
unemployment rate, which reached a two-year high of 25.6% in the second
quarter, is calculated from a survey of formal and informal industries.
The government is targeting a 14% jobless rate by 2020. South Africa
added 0.1% more jobs in the second quarter from a year earlier,
Statistics South Africa said. – Bloomberg
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