Unemployment in South Africa
South Africa - Unemployment
In general elections held on 8 May, the ruling African National Congress secured a comfortable majority as had been widely expected by analysts, winning 58% of the vote. The result, although down from the 62% garnered in 2014, provides President Cyril Ramaphosa with a clear mandate to govern—raising expectations over his commitment to push through badly-needed structural reforms. The election comes against a rather downbeat economic backdrop. Although manufacturing output picked up in March, its average growth through the first quarter landed below that of the fourth quarter of 2018. This, coupled with businesses turning more pessimistic in the quarter, points to weaker dynamics within the private sector. Moreover, tepid retail sales growth through the first quarter, combined with higher unemployment and lower consumer confidence, hints that private consumption lost momentum. On the upside, the PMI returned to positive territory and hit a 10-month high in April, boding well for economic activity at the outset of the second quarter.South Africa - Unemployment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 24.7 | 25.1 | 25.4 | 26.7 | 27.5 |
South Africa Unemployment Chart
Source: Statistics South Africa.
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.53 | 0.29 % | May 13 |
| Exchange Rate | 14.31 | -0.21 % | May 13 |
| Stock Market | 0.6 | -0.44 % | May 13 |
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Economic News
South Africa: SARB stays put as some policymakers mull rate cut
May 23, 2019
At its meeting ending 23 May, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) kept the repurchase rate unchanged at 6.75%.
South Africa: Inflation dips below SARB’s midpoint target in April
May 22, 2019
Consumer prices increased 0.6% from a month earlier in April, down from 0.8% in March.
South Africa: South Africans back Ramaphosa despite disillusionment with the ANC
May 21, 2019
Despite a setback at the polls for his African National Congress (ANC), incumbent President Cyril Ramaphosa secured a clear mandate from South African voters on 8 May to continue pursuing his reform-minded economic agenda.
South Africa: Private-sector business conditions stabilize in April
May 12, 2019
In April, the Standard Bank Purchasing Managers’ Index (PMI) rose 0.5 points to 50.3 points, landing above the 50-point threshold that distinguishes an improvement of private-sector business conditions for only the second time in ten months. April’s modest upturn reflected a stabilization of output—which had previously fallen for nine straight months.
South Africa: Manufacturing gains pick up in March
May 10, 2019
Manufacturing output increased 1.2% year-on-year in March, up from a revised 0.5% increase in February (previously reported: +0.6% year-on-year).
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