Unemployment in South Africa
South Africa - Unemployment
Early second-quarter indicators signal some respite following a sharper-than-expected contraction in Q1 due to rolling power outages. The retail sector picked up in April; car sales, on average, bounced back from the first quarter in April–May; while manufacturing activity grew at a faster pace, on average, in the same two months. Overall growth prospects remain bleak, however, with uncertainty over the restructuring of Eskom, the heavily indebted state-owned power utility, weighing on economic sentiment. Following slight upturns in April, the manufacturing PMI swung back into negative territory in May–June, and business confidence faltered again. The government is considering other measures to aid Eskom in addition to the ZAR 230 billion pledged, while minimizing the risk to public finances and credit ratings. Options on the table include swapping the firm’s sizeable debt for sovereign bonds or using a special purpose vehicle.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 | 8.03 | 0.29 % | Jul 11 |
| Exchange Rate | 13.94 | -0.21 % | Jul 11 |
| Stock Market | 0.1 | -0.44 % | Jul 11 |
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Economic News
South Africa: SARB cuts rate by 25 basis points amid precarious economic conditions
July 18, 2019
At its meeting ending 18 July, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) unanimously opted to cut the repurchase rate by 25 basis points to 6.50%, after holding rates for eight months.
South Africa: Manufacturing output loses steam in May
July 11, 2019
The manufacturing sector decelerated in May, with the annual growth of production slowing to 1.0% from a revised 4.3% expansion in April (previously reported: +4.6% year-on-year).
South Africa: Business conditions deteriorate at a softer rate in June
July 3, 2019
In June, the IHS Markit Purchasing Managers’ Index (PMI) rose from 49.3 in May to 49.7 in June.
South Africa: Inflation lands at SARB’s midpoint target in May
June 19, 2019
Consumer prices increased 0.3% month-on-month in May, down from 0.6% in April.
South Africa: Business conditions deteriorate in May
June 12, 2019
In May, the Standard Bank Purchasing Managers’ Index (PMI) fell 1.0 point to 49.3 points.
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