'Job loses and new job-seekers factors in high unemployment rate'

Stats SA has revealed that South Africa’s unemployment level is at its highest level since September 2003.

Statistician-General Pali Lehohla announced that unemployment in the first quarter of this year has risen to 27.7%.

The current unemployment rate was an increase of 1.2% from the fourth quarter of last year.

Economist Xhanti Payi says that the rising unemployment rate can be attributed to the increase in job-seekers.

In the first quarter, we saw some young people coming into stream from high school, so those people are actually also looking for jobs.

Xhanti, Economist and Researcher at Nascence Advisory and Research

Payi adds that there are more than 20 million South Africans who are not actively seeking employment or participating in the economy.

He says the key sectors which should be absorbing labour, such as agriculture, are the one's losing jobs.

Stats SA says that while employment grew by 144 000 jobs in the first quarter of this year, this was offset by 433 000 more people looking for jobs.

Take a listen to his analysis:


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by THE NEWSROOM

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