South Africa's jobless rate climbs to 33.6% in Q2, youth unemployment hits 47%

Statistics for the second quarter indicate South Africa's unemployment rate has risen to its highest level since 2022, standing at 33.6% with 8.5 million people out of work. Over the three-month period, more than 340,000 individuals entered the ranks of the unemployed, while youth unemployment surged to 47%. The figures temper the optimism that followed the coalition government's formation, which had previously secured the country's first rating upgrades in two decades and removal from a global financial watchdog's gray list.

Economic strain is now spilling into the political arena as parties gear up for municipal elections in November. In major urban areas, the persistent lack of jobs has reignited anti-migrant rhetoric and vigilante attacks against foreigners from neighboring African nations, who are blamed for taking jobs and overburdening services. The data underscore the challenge of translating investor confidence into tangible employment gains for the population.