|Low||7.233 M||6.588 M||
Unemployment values reflect the number of unemployed South African citizens in the reported quarter. Data for the indicator calculation is collected during the quarterly Labour Force Survey of households by Statistics South Africa.
The unemployed are defined as persons from 15 to 74 years of age who:
Based on the survey results, Statistics South Africa publishes a complete report with the unemployment metrics split by ethnic, gender and age groups. In addition to the nationwide index change, separate data are published for provinces.
Unemployment is important both from the social and economic point of view. The growth of unemployment leads to a decrease in the incomes of individuals and therefore to a decrease in consumer activity. In addition, this increases the pressure on the state budget and reduces tax revenues. Therefore, higher than expected readings are seen as negative for the South African economy and for rand quotes.
The chart of the entire available history of the "South Africa Unemployment" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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