The unemployment rate in South Africa edged up to 29.1 percent in the Q3 2019, its highest level since comparable data began in Q1 2008, matching market expectations. The number of unemployed rose by 78 thousand to 6.73 million while employment increased by 62 thousand to 16.38 million. A year earlier, the jobless rate was lower at 27.5 percent. Unemployment Rate in South Africa averaged 25.77 percent from 2000 until 2019, 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. source: Statistics South Africa
Unemployment Rate in South Africa is expected to be 27.30 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 28.30 in 12 months time. In the long-term, the South Africa Unemployment Rate is projected to trend around 29.00 percent in 2020, according to our econometric models.