September 29, 2020, 5:37 AM EDT Updated on September 29, 2020, 11:44 AM EDT 3:06. In South Africa, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. Direct access to our calendar releases and historical data. Data retrieved on January 29, 2021. In the past 10 years (2008–2018), the unemployment rate has increased from 21,5% to almost 28,0%. Though South Africa unemployment rate fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 37 % in 2020. South Africa Unemployment Rate Drops as Lockdown Prevents Job Search By . According to the latest Quarterly Labour Force Survey (QLFS) results released by Statistics South Africa (Stats SA), a decline in employment (down by 237 000) and an increase in unemployment (up by 62 000) in the 1 st quarter of 2019, compared to the 4 th quarter of 2018, led to a decline in the labour force participation rate, which is now standing at 59,3%. The unemployment rate would be significantly higher if the non-searching unemployed were included. What is unemployment rate? Publish your articles and forecasts in our website. In a conversation with IMF Country Focus, the Director-General of South Africa’s National Treasury Dondo Mogajane explains how the government has responded to the COVID-19 crisis, how … Total employment dropped in 7 out of the 10 industries, with the largest declines recorded in the finance industry (-50 thousand), followed by community and social services (-33 thousand), agriculture (-21 thousand), transport (-17 thousand), manufacturing (-15 thousand), construction (-7 thousand), and utilities (-4 thousand). $50.00. This unemployment rate has continued to climb in 2019, reaching 29.1% in the third quarter – its highest rate in over 16 years. By AP May 24, 2020 It was the lowest jobless rate since the second quarter of 2009, as the country's strict lockdown distorted labour force numbers with fewer people actively looking for employment. Statistics South Africa said the unemployment rate stood at 32.5% in the October-December quarter, meaning 7.2 million people were unemployed, up from 30.8% in the previous three months. Accordingly, labour force decreased by 5 million to 18.4 million and the number of unemployed declined by 2.8 million to 4.3 million. What is South Africa’s unemployment rate? Figure 1.1 shows that unemployment rates were lower in 1994 than in 2016 from the first to the last quarter. South Africa, which has the continent’s highest rate of COVID-19 infections, was in recession before it recorded its first coronavirus infection in March and has long suffered from extremely high levels of unemployment. South Africa also has a large number of people who have given up looking. The number of unemployed people rose by 2.2 million to 6.5 million, employment went up by 543 thousand to 14.7 million and the labour force increased by 2.8 million to 21.2 million. The increase presents a 1.7 percentage point increase from the third quarter of 2020. Monique Vanek . South Africa youth unemployment rate for 2016 was 53.66%, a 3.34% increase from 2015. Add To Cart. The number of unemployed persons increased by 701 thousand to 7.2 million, employment rose by 333 thousand to 15 million and the labour force went up by 1 million to 22.3 million. South Africa - Unemployment Rate. Unemployment, total (% of total labor force) (national estimate) - South Africa International Labour Organization, ILOSTAT database. The data reached an all-time high of 32.50 % in Dec 2020 and a record low of 21.50 % in Dec 2008. South Africa - Unemployment The economic scenario likely remained challenging in Q3, after the historic plunge in activity in Q2. The unemployment rate is highest among youths aged between 15 and 24, at around 63%. Unemployment refers to those persons who were not employed, had taken steps to look for a job or to start a business and were available to take up a job read more » See here for a complete list of exchanges and delays. The unemployment rate in South Africa edged up to 29.1 percent in the Q3 2019, its highest level since comparable data began in Q1 2008, matching market expectations. “We are seeing that the proportion of people of working age, versus the proportion of those that are employed, is widening, meaning the market is not creating sufficient jobs to absorb enough (people),” Statistician General Risenga Maluleke told a news conference. South Africa Unemployment Rate is updated quarterly, available from Mar 2008 to Dec 2020, with an average rate of 25.25 %. The unemployment rate is the percentage of a country's labor force that are without jobs but are available to work and actively seeking employment. Total employment dropped across all of the 10 industries, with the largest decreases recorded in community and social services (-515 thousand), followed by trade (-373 thousand), private households (-311 thousand), finance (-283), construction (-278), manufacturing (-250 thousand) and transport (-110 thousand). The country’s unemployment rate last reached 28% in 2003. Meantime, employment fell by 2.2 million to 14.1 million, the most since the survey began in 2008. South Africa's unemployment rate fell to 23.3% in the second quarter of 2020 from 30.1% in the previous period. The official statistic of unemployment in the last quarter of 2016 (Q4 2016) was 26.5% compared to 20% in the last quarter of 1994 (Q4 1994) according to the (SARB, 2017). Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. In 2020, unemployment rate for South Africa was 37 %. 2000-2020 Data | 2021-2023 Forecast | Calendar. South Africa's unemployment rate rose to 30.1 percent in the first quarter of 2020 from 29.1 percent in the previous period and above market expectations of 29.7 percent. It is consistently measured above 20%. At 38.5%, South Africa’s unemployment crisis is considerably deeper in light of this expanded definition. Employment fell by 91 thousand to 16.38 million from 16.42 million in the prior quarter. It was the highest jobless rate since quarterly data became available in 2008, with more people entering the labour market and actively looking for jobs. According to an expanded definition of unemployment that includes those discouraged from seeking work, 42.6% of the labour force was without work in the fourth quarter, amounting to 11.1 million people, Stats SA data showed. While the pace of decline moderated from Q2 due to the gradual easing of restrictions, industrial output contracted relatively sharply in the quarter. All quotes delayed a minimum of 15 minutes. This is illustrated in Figure 1, which shows how the inclusion of the non-searching unemployed raises the unemployment rate by an average of approximately ten percentage points. South Africa unemployment rate for 2019 was 28.18%, a 1.26% increase from 2018. Download historical data for 20 million indicators using your browser. It was the highest jobless rate on record since quarterly data became available in 2008, as the number of unemployed people increased by 344 thousand to an all-time high of 7.1 million. Still, the market is not creating sufficient jobs to absorb enough people of working age into employment. The Trading Economics Application Programming Interface (API) provides direct access to our data. The figure was the highest since the survey began in 2008. (photo: Siphiwe Sibeko/REUTERS/Newcom) South Africa Looks Toward Inclusive Recovery to Stabilize Debt, Boost Growth. In South Africa, however, this is not the case. A total of 43.1% of working-age South … South Africa’s eye-wateringly high unemployment rate—30% as of the first quarter of 2020—is set to rise further. South Africa's unemployment rate rose to 32.5% in the fourth quarter of 2020 from 30.8% in the previous period. South Africa’s unemployment rate is one of the highest in the world. Since the last figures were released in September, the expanded unemployment rate has sunk even further. South Africa's unemployment rate rose to 32.5% in the fourth quarter of 2020 from 30.8% in the previous period. South Africa’s official unemployment rate is on the increase. Unemployment is now at an all-time high of 32.5%, up from the previous three-month figure of 30.8%. The studies show the uneven effects of economic restrictions (see chart). Unemployment levels in South Africa are extremely high which is erratic and problematic. As a result, the official unemployment rate increased by 1 percentage point to (30.1%) compared to the fourth quarter of 2019,” said Stats SA. Our Standards: The Thomson Reuters Trust Principles. During this period, the South African working-age population increased by 147 000 to 38.9 million and the labour force increased by 306 000 to 23.5 million. Total employment only decreased in utilities (-23 thousand) and transportation (-7 thousand), but rose mostly in trade (62 thousand), finance (200 thousand), community and social services (137 thousand) and private households (116 thousand). The expanded definition of unemployment, including people who have stopped looking for a work, was at 39.7 percent, up from 38.7 percent in the prior period. Compared to a year ago, total employment fell by 1.4 million people, while the number of people who were not economically active rose by 1.5 million, the agency said. South African Stocks End at Over 1-Week High, South Africa Holds Key Interest Rate at 3.5%, South Africa February Producer Inflation at 1-Year High, South Africa February Inflation Rate at 8-Month Low, South Africa Leading Index Rises the Most in 3 Months, South Africa Building Permits Fall in January, South Africa Retail Sales Shrink More than Expected, South Africa Consumer Confidence at 1-Year High, South Africa Factory Output Falls More Than Estimated, Argentina Trade Surplus Shrinks in February, Colombia Leaves Interest Rate Unchanged at 1.75%. %, NSA 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 23 25 28 30 33 35 NaN%. This statistic shows the unemployment rate in South Africa from 1999 to 2020. South Africa Unemployment Rate increased to 32.50 % in Dec 2020, from the previously reported number of 30.80 % in Sep 2020. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. It was the highest jobless rate since quarterly data became available in 2008, with more people searching for work amid the easing of lockdown restrictions. South Africa's unemployment rate rose to 30.8% in the third quarter of 2020 from 23.3% in the previous period, though below market expectations of 33.4%. South Africa % of working age population: Total % of working age population Q4-2015-Q3-2020 South Africa (red), OECD - Total (black) Total % of working age population Q4-2020: Long-term unemployment rate Indicator: 64.8 Total % of unemployed 2019 South Africa % of unemployed: Total % of unemployed 2001-2019 South Africa (red), OECD - Total (black) Total % of unemployed South Africa remains a dual economy with one of the highest, persistent inequality rates in the world, with a consumption expenditure Gini coefficient of 0.63 in 2015. An extra 3.5-million unemployed people must be … Rising by 2.3% in one quarter, the expanded unemployment rate – which accounts for citizens who are technically ‘excluded from … Covid-19: South Africa's unemployment rate expected to reach 50% as economy keeps plummeting. The description is composed by our digital data assistant. The expanded definition of unemployment, including people who have stopped looking for a work, was at 42%, up from 39.7% in the prior period. Total employment rose mostly in community and social services (+170 thousand), construction (86 thousand) and private households (+76 thousand), but it fell in finance (-123 thousand) and mining (-35 thousand). Reporting by Mfuneko Toyana, writing by Olivia Kumwenda-Mtambo, Editing by Catherine Evans and Nick Macfie. South Africa’s unemployment rate hit a record high even before the pandemic hit. Created with Highcharts 5.0.2. South Africa unemployment rate for 2018 was 26.92%, a 0.15% decline from 2017. The expanded definition of unemployment, including people who have stopped looking for a work, was at 42.6%, down from 43.1% in the prior period. It was the highest jobless rate since comparable data began in 2008, with more people entering the labour market and actively looking for jobs. Statistics South Africa said the unemployment rate stood at 32.5% in the October-December quarter, meaning 7.2 million people were unemployed, up from 30.8% in the previous three months. These liquidations have contributed to the unemployment rate in South Africa – which was already high even before the pandemic. Unemployment rate in South Africa at record high. South Africa youth unemployment rate for 2017 was 53.62%, a 0.04% decline from 2016. South Africa’s unemployment rate rose to 32.5% in the last three months of 2020, Statistician-General Risenga Maluleke has revealed. The country … The unemployment rate in South Africa soars to 30% as a result of the Covid-19 pandemic Unemployment figures in South Africa have recently risen sharply as … Unemployment refers to the share of the labor force that is without work but available for and seeking employment. PRETORIA (Reuters) - South Africa’s unemployment rate jumped to a record high in the fourth quarter of last year, the statistics agency said on Tuesday, as the economy was further battered by the COVID-19 pandemic. Only Venezuela has a higher official unemployment rate. The expanded definition of unemployment, including people who have stopped looking for a work, was at 43.1%, up from 42% in the prior period.
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