Unemployment in South Africa

South Africa Unemployment | Economic News & Forecasts

South Africa - Unemployment

An inventory-driven recovery in the third quarter topped analysts’ estimates and ended the technical recession that blighted the economy through the first half of the year. In annualized terms, household spending staged a comeback following a value-added tax hike in the second quarter and appears to have also received a one-off boost from government employees’ back pay. Fixed investment, on the other hand, contracted sharply as firms’ plans were put off by the controversial land-reform debate. Despite a jump in exports, bolstered in part by greater automotive-related volumes, the external sector dragged on headline growth. Meanwhile, a supply-side breakdown revealed an industry- and agriculture-driven rebound in the quarter. Looking ahead to the remainder of the year, improved private-sector metrics through November could hint at a sorely-needed upturn in fixed investment. On the other hand, fiscal woes—compounded by weak growth prospects and rising debt-servicing costs—pushed two of the three credit-rating agencies to keep their junk-status views in recent weeks.

South Africa - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate24.7  25.1  25.4  26.7  27.5  

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South Africa Unemployment Chart

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

South Africa Facts

Bond Yield8.810.29 %Jan 14
Exchange Rate13.78-0.21 %Jan 14
Stock Market0.7-0.44 %Jan 11

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