South Africa's high jobless rate reflects rigid labour market

PRETORIA: South Africa's high unemployment rate is reflective of a rigid labour market, the central bank's Lesetja Kganyago said on Friday.

"The nature of unemployment in South Africa is emanating from the structural constraints that we are facing and there is pretty little that monetary policy could do to sustainably bring down unemployment," Kganyago, who will take over as central bank governor next week, told a conference in Pretoria.

"There are rigidities in our own labour market."