Zim Unemployment Rate At 5.42% – ILO
The International Labour Organisation has published its latest World Employment and Social Outlook and it makes for some interesting reading.
This is particularly so in the figures for the the unemployment rate for Zimbabwe in the year 2015.
It is measly 5.42%. Well not measly if you are one of the 5.42%.
Mind you this is the ILO definition of employment by the ILO:
Persons in employment comprise all persons above a specified age who during a specified brief period, either one week or one day, were in the following categories:
– paid employment;
– self employment
The ILO says unemployment will generally rise over the next five years due to slower growth of the economy, widening inequalities and turbulence.
The countries with the highest expected unemployment this year are Mauritania (30.9%), Reunion (29.4%), Macedonia (28.2%), Bosnia (27.5%), Guadeloupe (25.8%). Our friends over in South Africa had projected a rate of 25%.
Mind you the disclaimer by the ILO says:
Unemployment rates may differ from data published by national sources due to differences in coverage and/or definitions. In particular for 2013 and 2014, unemployment rates were estimated by the ILO in case data published by national sources were not yet available at the point of time at which the World Employment and Social Outlook report was prepared.
Source: ILO, Trends Econometric Models, October 2014.
Would be curious to see how we came to our figure. It is pretty consistent over the last couple of years we see.