Unemployment in South Africa

South Africa Unemployment | Economic News & Forecasts

South Africa - Unemployment

The economy likely slipped into recession in the first quarter. Supply-side activity collapsed due to troubles at the state-owned utilities provider Eskom; manufacturing output contracted in January–February; and the Covid-19 related lockdown measures hammered domestic demand in March. Turning to the second quarter, the economic panorama has deteriorated even further. Strict containment measures will be hammering investment activity and private spending, with business confidence and the PMI diving to their respective record lows in April, while the unemployment rate seems to have surged. Against this backdrop, the government announced an aid package of up to USD 26.0 billion—about 10.0% of GDP—to support businesses and protect jobs and boost the welfare system. Authorities are set to ease the nationwide lockdown by 1 June, which should give the economy a much-needed respite.

South Africa - Unemployment Data

2014   2015   2016   2017   2018  
Unemployment Rate25.1  25.4  26.7  27.5  27.1  

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South Africa Unemployment Chart

South Africa Unemployment
Note: Unemployment in % of active population.
Source: Statistics South Africa.

South Africa Facts

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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