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Unemployment Falls to 34.5% in Q1 2022, Down 0.8pp from Q4

SOUTH AFRICA
MNI (London)

Q1 2022 UNEMPLOYMENT FALLS TO 34.5% (FCST 35.4%); Q4 2021 35.3%

  • South African unemployment fell to 34.5% in Q1 2022, following the Q4 2021 high of 35.3% (a 2008 series high).
  • This broke the streak of 6 consecutive quarters of unemployment growth as unemployed persons decreased by 60k to 7.9 million.
  • 370k jobs were gained in the first quater of the year, with the largest gains in community and social services (+281k) followed by manufacturing (+263k) and trade (+98k). Substantial job losses were recorded in private households (-186k).

Source: Statistic South Africa

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