South Africa Unemployment Rate
| Medium | 32.1% | 32.5% |
31.9%
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| Last release | Importance | Actual | Forecast |
Previous
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South African Unemployment Rate reflects the rate of currently unemployed residents to the total civilian labor force.
Statistics South Africa quarterly conducts the Labour Force Survey involving about 30,000 households. The sample is based on 2001 census data.
The unemployed are defined as persons from 15 to 74 years of age who:
- were not employed in the referenced week; and
- actively looked for a job or tried to start a business in the four weeks preceding the report, and
- were ready to start work in the reference week; or
- had not actively looked for a job in the previous four weeks but had a job to start in future.
Based on the survey results, Statistics South Africa publishes a complete report with the unemployment metrics split by ethnic, gender and age groups.
The unemployment rate 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 forecast readings are seen as negative for the South African economy and for rand quotes.
Last values:
actual data
forecast
The chart of the entire available history of the "South Africa Unemployment Rate" 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.
