SA’s unemployment rate increased in the fourth quarter of 2023 trending above pre-pandemic levels. The job losses were driven mainly by the formal sector, suggesting SA’s volatile economic activity and poor business confidence will continue to hinder employment objectives.

Quarterly labour force survey data released by Stats SA on Tuesday showed the unemployment rate increased from 31.9% in the third quarter to 32.1% in the fourth quarter. The outcome was above the Bloomberg consensus, which put the unemployment rate at 31.6%...

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