The unemployment rate in South Africa decreased to 27.1 percent in the fourth quarter of 2018 from 27.5 percent in the previous period. The number of unemployed went down by 70 thousand to 6.14 million and employment rose by 149 thousand to 16.53 million. The unemployment rate usually falls in the last quarter of the year, due to higher job activity during the festive season. However, a year earlier, the jobless rate was lower at 26.7 percent. Unemployment Rate in South Africa averaged 25.63 percent from 2000 until 2018, reaching an all time high of 31.20 percent in the first quarter of 2003 and a record low of 21.50 percent in the fourth quarter of 2008.
Unemployment Rate in South Africa is expected to be 27.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in South Africa to stand at 27.60 in 12 months time. In the long-term, the South Africa Unemployment Rate is projected to trend around 28.40 percent in 2020, according to our econometric models.