South Africa’s unemployment rate decreased more-than-expected in the three months ended September, figures from Statistics Sweden showed Tuesday.
The unemployment rate rose to 25.5 percent in the third quarter from 25.0 percent in the previous three-month period. Economists had forecast the jobless rate to rise marginally to 25.1 percent.
In the corresponding period last year, the unemployment rate was 25.4 percent.
The number of unemployed people increased to 5.41 million in the three-month period to September from 5.23 million in the preceding quarter. A year earlier, the jobless figure totaled 5.15 million.
The labor force participation rate came in at 58.8 percent in the September quarter, up from 58.1 percent in the June quarter.
The material has been provided by InstaForex Company – www.instaforex.com