Fitch warns SA over its high unemployment level | IOL Business Report

JOHANNESBURG – Fitch Solutions, a unit of the Fitch Group, yesterday warned that South Africa’s high level of unemployment would continue to weigh on private consumption and real gross domestic product growth in 2019. The firm said in a research note that a weak macroeconomic backdrop and poor labour market conditions elevate risks to social stability. “We forecast an average unemployment rate of 26.3 percent in 2019, remaining above the average of 25.2 percent recorded since 2008,” Fitch said.

Capital Economics economist John Ashbourne said South Africa’s unemployment rate continued to be a result of structural factors. However, it said the labour market remained under pressure, mainly against the backdrop of weak economic growth - with the economy having not grown above 2 percent since 2013.

busrep The culprit is clear, but for ideological reasons they don't want to name it: high interest rates

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Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

SA petrol prices are generally higher than neighbouring countries | IOL Business ReportSouth African petrol prices are generally higher than its African neighbours with the exception of Zimbabwe. Higher than neighbouring countries Zimbabwe?,don't agree. Because the ANC needs the money! Stop rubbing salt into the wound, we know and don't wanna hear about it anymore.😔😓😞
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