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South Africa's unemployment steady, foreign reserves up to $42.414 billion

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Staff Writer | August 7, 2017
South Africa's unemployment
Africa   The statistics office and the Reserve Bank:

South Africa's unemployment rate remained unchanged at 27.7 percent of the labour force in the second quarter from the first quarter, data from the statistics office showed.

In its quarterly labour force survey, which polls households, Statistics South Africa said this amounted to 6.177 million people without jobs in the three months to end June, compared with 6.214 million previously.

The expanded definition of unemployment, which includes people who have stopped looking for work, rose slightly to 36.6 percent in the second quarter, from 36.4 percent in the previous quarter.

South Africa's net foreign reserves rose to $42.414 billion in July from $42.235 billion in June, the Reserve Bank said

Gross reserves fell to $46.746 billion from $47.352 billion, the central bank data showed.

The forward position, which represents the central bank's unsettled or swap transactions, increased to $3.113 billion from $2.464 billion.

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