Adcorp: Unemployment likely to rise in 2020, despite latest report
11 February 2020
Despite today’s report that showed the official unemployment rate steady at 29.1% in the fourth quarter of 2019, South Africa’s largest employment services group predicted that employment numbers would likely continue to rise in 2020.
Chery-Jane Kujenga, Interim Chief Executive Officer of Adcorp Holdings, said that while it was some comfort that unemployment did not get worse in the last quarter of last year, employment remained at the highest levels in 12 years and that the growing joblessness trend was still firmly intact.
And South Africa remains a country with one of the world’s highest unemployment rates.
“Unfortunately this year has started with mass retrenchments. The economy also continues to struggle and it seems unlikely there will be any improvements in the near future so we anticipate the unemployment rate will climb further this year.”