Feb 25, 2016

South Africa's Drought Leads to Job Cuts, Surging Food Prices

South Africa
by
Rene Vollgraaff, Tshepiso Mokhema and Amogelang Mbatha
,
Bloomberg
Few jobs. Photo: Statics of South Africa,Bloomberg
Few jobs. Photo: Statics of South Africa,Bloomberg

South Africa’s worst drought in more than a century is taking its toll on the economy as farms cut jobs and the cost of producing food surged. Employment in agriculture decreased by 37,000 in the fourth quarter of last year, offsetting some job gains in government and finance and contributing to the 24.5 percent jobless rate