Chief economist at Nedbank Dennis Dykes says unemployment in South Africa can only be alleviated if the economy improves. Statistics South Africa revealed an increase in the unemployment rate on Tuesday.
Statistics South Africa has announced that the number of unemployed persons increased by 62 000 to 6.2 million in the first quarter of the year.
Analysts say rapid economic growth is needed to address the country’s unemployment crisis.
Analysts are anticipating weak economic data in the fourth quarter 2018. This as Statistics South Africa prepares to release the mining, manufacturing, and retail sales figures over the of course of the next two weeks.
South Africa’s headline consumer inflation was flat at 4.9 percent year-on-year in September, data from Statistics South Africa showed on Wednesday.