Unemployment hit a 13-year high in the first quarter of the year as the economy failed to keep up with the pace of people entering the market, statistics released on Thursday showed. There was also little hope of an improvement for 2017, economists said, as heightened policy uncertainty undermined business confidence and harmed the outlook for growth. Investec economist Kamilla Kaplan said: “This suggests that the prospects for a meaningful recovery in private-sector fixed investment and employment are poor.” Nedbank economist Johannes Khosa said: “The outlook for the job market remains uncertain due to weak confidence, weak growth prospects and the difficult policy environment.” The private sector was expected to delay investment plans, he said, while government caps to support fiscal consolidation would restrict public sector employment. From January to March, 144,000 jobs were added to the economy. But the gains were offset by the increase in the number of job seekers, which rose...
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