Unemployment in focus on Tuesday
SA’s dire unemployment will be in the spotlight on Tuesday, when Stats SA reports how much the March quarter worsened from the December quarter’s 26.7%
Tuesday’s focus will be on unemployment, which is likely to have worsened again in the first quarter — after improving to 26.7% in the fourth quarter of 2017 from 27.7% in the third quarter. Statistics SA is scheduled to release its labour force survey for the first quarter of 2018 at 11.30am. "Traditionally, seasonal hiring in the services sectors in the last quarter of the year results in an improvement in the number of individuals employed. However, this hiring is typically reversed in the following quarter, which could affect the numbers," Investec Bank economist Lara Hodes wrote in her weekly note e-mailed on Friday. "We therefore expect unemployment to rise slightly to 26.9% for the first quarter of 2018. "A notable uptick in investment, which would ultimately lift potential gross domestic product (GDP) growth is required to enhance employment rates. Global growth, and policy and political certainty, have improved following President Cyril Ramaphosa’s election as president of ...
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