South Africa Unemployment Rate

South Africa's unemployment rate fell for the second successive quarter to 31.9% in Q4 2024, down from 32.1% in the previous three-month period. This marked the lowest jobless rate since Q3 2023, as the number of unemployed individuals decreased by 20 thousand to 7.991 million. At the same time, employment rose by 132 thousand to 17.078 million, and the labor force increased by 112 thousand to 25.069 million. By sectors, job gains were mostly seen in finance (+232 thousand to 2.948 million) and manufacturing (+41 thousand to 1.675 million), while community & social services (-63 thousand to 3.959 million) and trade (-48 thousand to 3.421 million) reported the biggest declines. The expanded definition of unemployment, which includes those discouraged from seeking work, remained unchanged at 41.9% in Q4. The youth unemployment rate, which measures job-seekers between 15 and 24 years old, eased further to hit a one-year low of 59.6% in Q4 2024, compared to 60.2% in the previous period.