Johannesburg - South Africa, which has the highest unemployment rate of more than 40 emerging markets tracked by Bloomberg, lost 28,000 non-farm jobs in the second quarter.
Employment in the formal, non-agricultural industries fell 0.3 percent to 8.4 million from the first quarter, Pretoria- based Statistics South Africa said on its website today.
The data is based on a survey of companies registered to pay taxes.
Africa’s largest economy grew at an annualised 3 percent in the second quarter, up from 0.9 percent in the first quarter, as manufacturing output and finance, real estate and business services expanded, the statistics office said on August 27.
The Reserve Bank has kept it benchmark repurchase rate at 5 percent for more than a year and will probably hold the rate on Thursday, according to 19 economists surveyed by Bloomberg.
The unemployment rate, which reached a two-year high of 25.6 percent in the second quarter, is calculated from a survey of formal and informal industries.
The government is targeting a 14 percent jobless rate by 2020.
South Africa added 0.1 percent more jobs in the second quarter from a year earlier, Statistics South Africa said. - Bloomberg News