Unemployment in South Africa

South Africa Unemployment | Economic News & Forecasts

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 11-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 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 Yield8.380.29 %Jun 14
Exchange Rate14.77-0.21 %Jun 14
Stock Market0.7-0.44 %Jun 13

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