South Africa's unemployment rate held steady at 29.1 percent in the fourth quarter of 2019, unchanged from the previous month's 11-year high, as the number of unemployed people dropped only by 8 thousand to 6.7 million. Employment increased by 45 thousand to 16.42 million from 16.38 million in the prior period, likely influenced by the festive season. Total employment went up in six of the 10 industries, with the largest increases recorded in community and social services (113 thousand), followed by finance (76 thousand) and transport (36 thousand). Declines were recorded in the trade (-159 thousand), manufacturing (-39 thousand) and utilities (-14 thousand) sectors, as a result of severe power cuts. The expanded definition of unemployment, including people who have stopped looking for a work, was 38.7 percent, up slightly from 38.5 percent in the previous quarter. Also, the youth unemployment rate dropped to 58.1 percent from 58.2 percent in the previous period.
Unemployment Rate in South Africa averaged 25.79 percent from 2000 until 2019, reaching an all time high of 30.40 percent in the third quarter of 2002 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 May of 2020. source: Statistics South Africa
Unemployment Rate in South Africa is expected to be 37.50 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 36.70 in 12 months time. In the long-term, the South Africa Unemployment Rate is projected to trend around 35.00 percent in 2021 and 33.00 percent in 2022, according to our econometric models.