South Africa's unemployment rate eased to 34.5% in the first quarter of 2022, the first decline in seven quarters, down from a record high of 35.3% in the prior period. The number of unemployed persons decreased by 60 thousand to 7.9 million, employment rose by 370 thousand to 14.9 million and the labour force went up by 310 thousand to 22.8 million. Among sectors, job gains were seen mostly in community and social services (+281 thousand), manufacturing (+263 thousand) and trade (+98 thousand). By contrast, positions were cut primarily in private households (-186 thousand), finance (-72 thousand) and construction (-60 thousand). The expanded definition of unemployment, including people who have stopped looking for work, was at 45.5%, down from 46.2% in the fourth quarter. The youth unemployment rate, measuring job-seekers between 15 and 24 years old, fell to 63.9% in the first quarter of 2022, the lowest in a year, from a record high of 63.5% in the last quarter. source: Statistics South Africa
Unemployment Rate in South Africa averaged 26.56 percent from 2000 until 2022, 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 August of 2022.
Unemployment Rate in South Africa is expected to be 35.00 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 36.00 percent in 2023 and 35.00 percent in 2024, according to our econometric models.