South Africa's unemployment rate has declined marginally to 27.1% in the fourth quarter in line with markets expectations. Economists expected the decline supported by seasonal hiring in the fourth quarter. The largest increases in employment were recorded in finance and other business services as well as private households.
The manufacturing, mining and trade have also recorded some gains.
Employment declines were recorded in community and social services as well as transport and construction. The low economic growth and the sluggish investment climate are to blame for the depressed job prospects. Economists expect the labour market to remain constrained until there is substantial investments in the economy. Our reporter Glorious Sefako-Musi has more.
For more news, visit: sabcnews.com
