National tragedy: Third-quarter data show unemployment rate hit record high of 30.8%

SA’s official unemployment rate is north of 30% again, while the expanded definition, which includes discouraged jobseekers, has climbed to more than 43%, data for the third quarter of 2020 showed. Both are record highs since Statistics SA began measuring unemployment via a redesigned survey, the Quarterly Labour Force Survey, in 2008.  “Judging by the inquiries we’re getting and the business leaders coming to us, the worst is yet to come with job losses as more companies will hit the wall in Q1 next year,” Engaged BT’s Ian Fleming told Business Maverick.

National tragedy: Third-quarter data show unemployment rate hit record high of 30.8%

South Africa’s official unemployment rate is north of 30% again, while the expanded definition, which includes discouraged jobseekers, has climbed to more than 43%, data for the third quarter of 2020 showed on Thursday. Both are record highs since Statistics South Africa began measuring unemployment via a redesigned survey, the Quarterly Labour Force Survey, in 2008.