South Africa Unemployment Rate Jumps to 10-Year High


South Africa jobless rate increased to 26.4 percent in the first three months of 2015 from 24.3 percent in the precedent quarter. It is the highest rate since 2005, as unemployment rose 12.8 percent on quarter, while employment grew at a slower 0.9 percent.

In the three months to March, the number of unemployed people went up by 626 000 to 5.535 million, from 4.909 million in the previous quarter. The expanded unemployment rate, which includes people who have stopped looking for work, increased by 1.5 p.p. to 36.1 percent from 34.6 percent in Q4 2014. 

The labour force increased by 766 000 to 20.99 million . The number of discouraged job-seekers decreased by 6 000 and the other (not economically active) group fell by 605 000. 

In Q1 2015, the number of employed people increased by 140 000 to 15.46 million.  Large quarterly gains were observed in the finance (156 000), agriculture (150 000) and private households industries (69 000). Job losses were recorded in the trade, transport and community and social services industries (201 000, 53 000 and 51 000 respectively). 

A year earlier, unemployment was recorded at 25.2 percent. Year-on-year, the number of unemployed rose 9.2 percent (+468 000) while employment increased 2.7 percent (+405 000).

South Africa Unemployment Rate Jumps to 10-Year High


Statistics South Africa | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/26/2015 12:56:01 PM