Unemployment in South Africa

South Africa Unemployment | Economic News & Forecasts

South Africa - Unemployment

South Africa’s economy appears to be slowly turning the page from last year’s short-lived recession, although available fourth-quarter data has been offbeat. On the demand side, retail sales were uneven through December, while the late-year correction in fuel costs sent inflation tumbling towards the South African Reserve Bank’s (SARB) midpoint target in December. Meanwhile, from the supply side, economic sentiment notched a recovery through year-end in line with stabilizing manufacturing-sector gains. All this follows an expectations-defying third-quarter rebound fueled by a build-up of inventories, as well a comeback in household spending on the heels of last year’s value-added tax hike. Looking ahead to the current quarter, however, a number of headwinds threaten to knock the recovery off course. These include this year’s budget announcement on 20 February, which is likely to detail last year’s missed fiscal targets and could throw the government’s sovereign ratings back into the spotlight. Moreover, troubles at Eskom, the state-owned power utility, have sparked rolling blackouts and its crippled finances could potentially destabilize the economy.

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

ValueChangeDate
Bond Yield8.660.29 %Mar 11
Exchange Rate14.37-0.21 %Mar 11
Stock Market0.6-0.44 %Mar 11

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