Unemployment rate falls to 24.7 percent

2013-10-29 12:12

South Africa’s unemployment rate fell last quarter to 24.7% as the retail trade and finance industries added jobs in the continent’s largest economy.

“The prospects for meaningful job creation are limited,” Kamilla Kaplan, an economist at Investec, said in a emailed note to clients before the data were released. “The scope for job creation in the public sector is also restricted amid efforts to curtail the expansion of the wage bill.”

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