By Xavier Fontdegloria
South Africa's official unemployment rate increased to a record high in the fourth quarter of 2020, data from the country's statistics office showed Tuesday.
South Africa's unemployment rate stood at 32.5% in the fourth quarter, up 1.7 percentage points from 30.8% in the third quarter.
The reading is the highest since start of the series in 2008.
The South African Reserve Bank forecasts that the economy will grow 3.6% in 2021 after an estimation that it shrank by 7.1% in 2020.
Write to Xavier Fontdegloria at email@example.com
(END) Dow Jones Newswires