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South Africa’s unemployment rate rose to 32.1% in the fourth quarter of 2023. The government released the figures yesterday, creating flutter among the ruling party, amidst the forthcoming elections. South Africa has one of the highest unemployment rates in the world
South Africa’s unemployment rate rose to 32.1% in the fourth quarter of 2023. The government released the figures yesterday, creating flutter among the ruling party, amidst the forthcoming elections. South Africa has one of the highest unemployment rates in the world. The ruling ANC is staring at the figures since it will have an impact on the forthcoming elections. The date of this year’s election has not yet been announced. It’s expected to take place between May and August.
The Quarterly Labor Force Survey reported that the number of unemployed working-age people in South Africa rose to 7.9 million after 46,000 more became unemployed in the last three months of 2023, increasing from 31.9%. Unemployment among those aged 15-24 was 59.4% at the end of last year as South Africa continued to struggle to create jobs for young people entering the workforce.
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The ANC has been in government since the end of the apartheid system of white minority rule in 1994 but has seen its support gradually wane over the last 30 years. Several polls predict the ANC may dip below 50% of the vote in this year’s national election. If the ANC loses its majority, it would need to go into coalition to remain in government. South Africa never had a coalition government at the center. In the local elections in 2021, the ANC received less than 50% vote share for the first time.
