Unemployment Oh, did we say there would be jobs?
Just a couple days shy of last week’s election, StatSA released the employment figures for the first quarter of the year, and the numbers revealed (rather unsportingly for the ANC) that unemployment had kicked up 1.1 percentage points to 25.2%, with unemployment by the expanded definition that includes those who desire employment whether they are actively seeking it or not, up to 35.1% from 34% in the last quarter of 2013. Getting a little more specific, 122,000 jobs were lost during the period, while the ranks of the unemployed swelled by 237,000, the largest decrease since 2011. The biggest loss, surprisingly, came in the informal sector, traditionally a bulwark of the economy, but which this time around lost 110,000 jobs.
Comment: Which is OK, because there was an election, and jobs were promised…