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According to a report by Statistics South Africa, unemployment rate in South Africa is at 24.9%, down from 25.2% in the first quarter. A staggering 79% of those unemployed are under the age of 35, with some 26,000 graduates unemployed.
The largest decreases in unemployment were seen in Limpopo with 1.7%, Mpumalanga with 1.4% and KwaZulu-Natal at 0.7%.
“Approximately 4.5 million persons were looking for work in the 2nd quarter of 2012, of which 3,0 million (or 67.8%) have been looking for work for a period of 1 year or longer,” read the report. “Furthermore, 58.6% of the job seekers did not have matric. Despite overall levels of unemployment declining year-on-year, the number of unemployed persons increased by 24,000 among those with tertiary education”.
Some econ...