South Africa's unemployment rate fell to 32.1% in Q3 of 2024, down from a two-year high of 33.5%% in the prior period, marking the first decrease since Q3 2023. The number of unemployed individuals dropped by 354 thousand, reaching 8 million, the lowest figure in almost a year, while the labor force declined by 79 thousand to 24.9 million. Discouraged work-seekers increased by 160 thousand and the number of persons who were not economically active for reasons other than discouragement increased by 54 thousand. On the other hand, employment increased by 294 thousand to an all-time high of 16.9 million. Job gains were concentrated in community and social services (+194 thousand), construction (+176 thousand), and trade (+109 thousand), while the finance sector saw the largest decline (-189 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 41.9% in Q3, compared to 42.6% in the previous three-month period. source: Statistics South Africa

Unemployment Rate in South Africa decreased to 32.10 percent in the third quarter of 2024 from 33.50 percent in the second quarter of 2024. Unemployment Rate in South Africa averaged 27.30 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 November of 2024.

Unemployment Rate in South Africa decreased to 32.10 percent in the third quarter of 2024 from 33.50 percent in the second quarter of 2024. Unemployment Rate in South Africa is expected to be 33.00 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 32.70 percent in 2025 and 32.50 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-08-13 09:30 AM
Unemployment Rate
Q2 33.5% 32.9% 32.3% 32.6%
2024-11-12 09:30 AM
Unemployment Rate
Q3 32.1% 33.5% 32.9%
2025-02-20 09:30 AM
Unemployment Rate
Q4 33.00%


Related Last Previous Unit Reference
Employed Persons 16946.00 16652.00 Sep 2024
Employment Rate 40.30 40.70 percent Jun 2024
Labor Force Participation Rate 60.20 60.60 percent Sep 2024
Population 62.20 61.40 Million Dec 2023
Unemployed Persons 8011.00 8384.00 Thousand Sep 2024
Unemployment Rate 32.10 33.50 percent Sep 2024
Wages 27450.00 26783.00 ZAR/Month Jun 2024
Wages in Manufacturing 23614.00 23102.00 ZAR/Month Jun 2024
Youth Unemployment Rate 60.20 60.80 percent Sep 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
32.10 33.50 35.30 21.50 2000 - 2024 percent Quarterly
SA


News Stream
South Africa Jobless Rate Falls to 32.1% in Q3
South Africa's unemployment rate fell to 32.1% in Q3 of 2024, down from a two-year high of 33.5%% in the prior period, marking the first decrease since Q3 2023. The number of unemployed individuals dropped by 354 thousand, reaching 8 million, the lowest figure in almost a year, while the labor force declined by 79 thousand to 24.9 million. Discouraged work-seekers increased by 160 thousand and the number of persons who were not economically active for reasons other than discouragement increased by 54 thousand. On the other hand, employment increased by 294 thousand to an all-time high of 16.9 million. Job gains were concentrated in community and social services (+194 thousand), construction (+176 thousand), and trade (+109 thousand), while the finance sector saw the largest decline (-189 thousand). The expanded definition of unemployment, which includes those discouraged from seeking work, was 41.9% in Q3, compared to 42.6% in the previous three-month period.
2024-11-12
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