EDITORIAL: The puzzling resilience of the South African economy
Despite the omnishambles, unemployment’s down and growth forecasts are up. What’s going on?
16 August 2023 - 06:00
Given what has been thrown at employers — Covid, blistering load-shedding, sky-high inflation, the collapse of the national logistics network, mounting political uncertainty and record rand weakness — it is hard to believe the economy has created 2-million jobs since the final quarter of 2021.
After a relentless climb, the official unemployment rate fell slightly from 32.9% in the first quarter to 32.6% in the second, according to Stats SA’s Quarterly Labour Force Survey published this week. ..
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