South Africa’s unemployment rate eased to 26.7% in the fourth quarter of 2017, Statistics South Africa (Stats SA) announced yesterday (Tuesday).
“As of the last quarter of 2017, unemployment was sitting at 26.7%,” said statistician general Risenga Maluleke, lower than the 27.7% rate recorded during the second and third quarters.
Commenting on the statistics, Nedbank economists said that while the outlook for the job market was “uncertain” prospects were better.
“The political landscape is improving, while global economic growth and commodity prices are forecast to increase in 2018. This will support business confidence, which should ultimately encourage fixed investment activity and employment creation by the private sector,” a spokesman said.
The Quarterly Labour Force Survey (QLFS) found that the unemployment rate was higher for those with lower education levels.
In the fourth quarter, those without matric had an unemployment rate of 31.2%, while the rate for those with matric was 27.5%. The unemployment rate among graduates was 6.6% in the fourth quarter.
