Africa’s second-largest economy, South Africa, has released its recent unemployment report, which placed the nation’s unemployment rate at 32.6%.
The data, which was released by Statistics South Africa and reported by Bloomberg, revealed that the figure rose from 32.5% to 32.6% in months through December.
South Africa’s economy has been hard hit by the coronavirus pandemic. The report also suggested that South Africans available to work but not actively job searching rose from 42.6% to 43.2%.
What you should know
Africa’s largest economy, Nigeria, also reported a major unemployment problem in its jobs report, noting that the unemployment rate as of the end of 2020 rose to 33.3% from 27.1% recorded as of Q2 2020, indicating that about 23,187,389 (23.2 million) Nigerians remain unemployed.