What is the real unemployment rate in South Africa?

Characteristic Unemployment rate
2020 28.74%
2019 28.47%
2018 26.91%
2017 27.04%

What is the true unemployment rate in South Africa?

South Africa’s official unemployment rate rose to a new high in the first quarter as the construction and trade industries shed jobs. The jobless rate rose to 32.6% from 32.5% in the three months through December, Statistics South Africa said Tuesday in a report released in the capital, Pretoria.

What is the real unemployment rate 2021?

In June 2021 the real unemployment rate (U-6) was 9.8%. 1 It’s much higher than the widely reported unemployment rate (U-3) of 5.9%.

What is the current real unemployment rate?

THE EMPLOYMENT SITUATION — JUNE 2021

Total nonfarm payroll employment rose by 850,000 in June, and the unemployment rate was little changed at 5.9 percent, the U.S. Bureau of Labor Statistics reported today.

What is the current employment rate in South Africa 2020?

Employment Rate in South Africa is expected to be 37.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Employment Rate in South Africa to stand at 41.70 in 12 months time.

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What was the highest unemployment rate in 2020?

Unemployment rate rises to record high 14.7 percent in April 2020

Month Total Both sexes, 16 to 19 years
Nov 1948 3.8 9.1
Dec 1948 4.0 8.5
Jan 1949 4.3 10.0
Feb 1949 4.7 10.6

What state has the worst unemployment rate?

Unemployment Connecticut and New Mexico had the highest unemployment rates in June, 7.9 percent each, closely followed by Nevada, 7.8 percent. Nebraska and Utah had the lowest jobless rates, 2.5 percent and 2.7 percent, respectively.

What is the u6 unemployment rate today?

U-6 Unemployment is all unemployed, marginally attached and part-time for economic reasons individuals as a percent of the civillian labor force plus all marginally attached workers.

Stats.

Last Value 10.10%
Long Term Average 10.45%
Average Growth Rate 3.34%

What is a bad unemployment rate?

The level at which unemployment equals positive output is highly debated. However, economists suggest that as the U.S. unemployment rate gets below 5%, the economy is very close to or at full capacity. So at 3.5% one could argue the level of unemployment is too low, and the U.S. economy is becoming inefficient.

Why the unemployment rate is not accurate?

The true percentage of people who don’t have jobs or aren’t making enough money is often worse than the official unemployment rate suggests because the Current Population Survey (CPS) doesn’t collect certain information from those surveyed.

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