Electron Native

South Africa’s second quarter(Q2)unemployment has risen to 29% in the second quarter (Q2) from 27.6% in the first quarter of 2019. This has been   driven by employment losses in private households, transport and mining, according to data from Statistics South Africa . South African youths protesting their lack of jobs This is  the highest jobless rate that South Africa has recorded.  The last time was in 2008 during the last Global Economic Meltdown and that was when the quarterly survey started. Statistician general, Risenga Maluleke added at a press conference that it would be difficult to create jobs in a shrinking economy.   There were 6.7 million people without jobs in the three months to the end of June, compared with 6.2 million people in the previous quarter, Statistics South Africa said its quarterly labour force survey. South Africa’s economy has contracted by 3.2% in the first three months o...

China says existing U.S. tariffs must be removed for a trade deal Trade China’s commerce ministry says on Thursday that existing U.S. tariffs will have to be removed if there is to be a trade deal between Beijing and Washington. The leaders of the two countries agreed last weekend to relaunch trade talks. The talks that was stalled in May after U.S. officials accused China of pulling back from commitments made in the text of a pact negotiators had said was nearly finished. Trade teams from both countries are in contact, commerce ministry spokesman Gao Feng told a regular media briefing. To get talks restarted, U.S. President Donald Trump had agreed not to put tariffs on about $300 billion in additional Chinese imports and ease curbs on Chinese tech giant Huawei. The United States now has tariffs of 25% on $250 billion of Chinese goods, ranging from furniture to semiconductors. China welcomes the U.S. decision not to slap new tariffs on its goods, Gao ...