South Africa's unemployment rate rose to 33.5% in Q2 of 2024, the highest in two years, up from 32.9% in the prior period, surprising analysts who expected it to ease to 32.3%. The number of unemployed individuals increased by 158 thousand, reaching 8.4 million, marking the highest figure since comparable records began in 2008. In the meantime, the labor force rose by 66 thousand to 25 million, while employment declined by 92 thousand to 16.7 million. Job losses were recorded in trade (-111 thousand), agriculture (-45 thousand), private households (-18 thousand), construction (-11 thousand) and finance (-9 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 42.6% in Q2, compared to 41.9% in the previous three-month period. Meanwhile, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, picked up to an over one-year high of 60.8% in Q2, compared to 59.7% in the previous period. source: Statistics South Africa

Unemployment Rate in South Africa increased to 33.50 percent in the second quarter of 2024 from 32.90 percent in the first quarter of 2024. Unemployment Rate in South Africa averaged 27.25 percent from 2000 until 2024, reaching an all time high of 35.30 percent in the fourth quarter of 2021 and a record low of 21.50 percent in the fourth quarter of 2008. This page provides - South Africa Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2024.

Unemployment Rate in South Africa increased to 33.50 percent in the second quarter of 2024 from 32.90 percent in the first quarter of 2024. Unemployment Rate in South Africa is expected to be 33.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Unemployment Rate is projected to trend around 33.00 percent in 2025 and 34.20 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-05-14 09:30 AM
Unemployment Rate
Q1 32.9% 32.1% 32.3%
2024-08-13 09:30 AM
Unemployment Rate
Q2 33.5% 32.9% 32.3% 32.6%
2024-11-14 09:30 AM
Unemployment Rate
Q3 33.5% 33.7%


Related Last Previous Unit Reference
Employed Persons 16652.00 16745.00 Jun 2024
Employment Rate 40.30 40.70 percent Jun 2024
Labor Force Participation Rate 60.60 60.70 percent Jun 2024
Population 62.20 61.40 Million Dec 2023
Unemployed Persons 8384.00 8226.00 Thousand Jun 2024
Unemployment Rate 33.50 32.90 percent Jun 2024
Wages 27450.00 26783.00 ZAR/Month Jun 2024
Wages in Manufacturing 23614.00 23102.00 ZAR/Month Jun 2024
Youth Unemployment Rate 60.80 59.70 percent Jun 2024

South Africa Unemployment Rate
In South Africa, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
33.50 32.90 35.30 21.50 2000 - 2024 percent Quarterly
SA


News Stream
South Africa Jobless Rate Surprises at 2-Year High
South Africa's unemployment rate rose to 33.5% in Q2 of 2024, the highest in two years, up from 32.9% in the prior period, surprising analysts who expected it to ease to 32.3%. The number of unemployed individuals increased by 158 thousand, reaching 8.4 million, marking the highest figure since comparable records began in 2008. In the meantime, the labor force rose by 66 thousand to 25 million, while employment declined by 92 thousand to 16.7 million. Job losses were recorded in trade (-111 thousand), agriculture (-45 thousand), private households (-18 thousand), construction (-11 thousand) and finance (-9 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 42.6% in Q2, compared to 41.9% in the previous three-month period. Meanwhile, the youth unemployment rate, measuring job-seekers between 15 and 24 years old, picked up to an over one-year high of 60.8% in Q2, compared to 59.7% in the previous period.
2024-08-13
South Africa Jobless Rate Hits 1-Year High of 32.9%
South Africa's unemployment rate increased to 32.9% in Q1 of 2024, the highest in a year, up from 32.1% in the prior period. The number of unemployed individuals surged notably by 330 thousand, reaching 8.2 million, marking the highest figure since comparable records began in 2008. In the meantime, the labor force rose by 352 thousand to 25 million, while employment rose by only 22 thousand to 16.7 million. Job losses occurred mainly in community & social services (-122 thousand), followed by construction (-106 thousand), finance (-50 thousand ) and utilities (-17 thousand). Conversely, jobs were added primarily in trade (+109 thousand) and manufacturing (+99 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 41.9% in Q1, compared to 41.1% in the previous three-month period. The youth unemployment rate in South Africa, measuring job-seekers between 15 and 24 years old, picked up to 59.7% in Q1 2024, from 59.4% in Q4 2023.
2024-05-14
South Africa Jobless Rate Up to 32.1% in Q4
South Africa's unemployment rate rose to 32.1% in Q4 of 2023, up from a one-year low of 31.9% in the prior period, as the number of unemployed persons increased by 46 thousand to 7.9 million. Meanwhile, employment fell by 22 thousand to 16.7 million, after rising by eight straight quarters, and the labor force rose by 25 thousand to 24.6 million. Job losses were recorded primarily in community & social services (-171 thousand), followed by construction (-36 thousand), agriculture (-35 thousand), trade (-28 thousand) and manufacturing (-1 thousand). On the other hand, more jobs were added in finance (+128 thousand), transport (+57 thousand) and mining (+37 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 41.1% in Q4, down marginally from 41.2% in Q3. The youth unemployment rate in South Africa, measuring job-seekers between 15 and 24 years old, picked up to 59.4% in Q4, from an over one-year low of 58% in the third quarter.
2024-02-20