[This is the Govt covering up the facts… Chances are… it is much higher than 40%… His statement of: “If it were true (40%)… there would be a revolution”… What rubbish… All the stats point to 70%(43)+ unemployment in Zimbabwe and there is no revolution there! Jan]

Cape Town – Finance Minister Trevor Manuel rejected on Thursday widespread claims South Africa’s unemployment rate is running at 40%.

Answering questions on the Budget during a breakfast function in Cape Town, he said that figure was incorrect.

If it were true, “we will have a revolution”, he said.

Unemployment figures should not simply be “bandied about”, as was happening.

“Sure unemployment is a problem… but that figure is wrong.”

Manuel also rejected suggestions government provide social grants to the unemployed, saying it would bankrupt the country.

According to the Budget Review document – tabled during Manuel’s Budget speech in the National Assembly on Wednesday – the official rate of unemployment decreased from 31.2% in March 2003 to 27.8% in March 2004.

A comparison of the findings of a March 2000 Labour Force Survey and the March 2004 survey showed there had been a steady increase in employment across all sectors of the economy, broadly in line with the average rate of economic growth, the document stated.

Source: Finance24.Com
URL: http://www.finance24.com/Finance/Economy/0,,1…/p>