South Africa's Unemployment Rate Hits 29%

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 of the year due to nationwide power outages implemented by state utility firm Eskom. This triggered a broad contraction across sectors Last week two ratings firms warned of the impact on an already dire economic growth outlook of the recent 59 billion rand  equal to 4.15 billion U.S. dollar.