Rio Times Markets · South Africa
Key Facts
- The figure South Africa’s official unemployment rate was 33.7% in the third quarter of 2026, up from 33.6%.
- Versus forecast Analysts expected 32.5%, so the rate was 1.2 percentage points higher (consensus: average analyst forecast).
- The trend The rate was 32.7% in the first quarter and 33.6% in the second, so it has risen two quarters running.
- Factories September factory output was flat on the month, against a forecast fall of 0.7%.
- What ends it A fourth-quarter rate below 33.6% would show the rise has reversed.
About one in three South Africans looking for work could not find it in the third quarter of 2026, and the rate was worse than analysts expected.
What Changed
South Africa’s official unemployment rate, the share of people looking for work who cannot find it, was 33.7% in the third quarter of 2026. That is up from 33.6% in the second quarter and 1.2 percentage points above the 32.5% consensus on the RT economic calendar, our feed of official release dates and analyst forecasts.
Statistics South Africa (Stats SA), the national statistics agency, publishes the figure from its quarterly labour force survey. It was released on 10 November 2026.
Where It Sits in the Trend
The rate was 32.7% in the first quarter of 2026 and 33.6% in the second, a rise of 0.9 point that Stats SA reported in August. The third quarter adds another 0.1 point, so the rise has slowed but not stopped.
In the second quarter, Stats SA put youth unemployment, for people aged 15 to 34, at 47.4%. Young people therefore carry much of the burden.
Why It Moved
The calendar figures do not say whether the rise came from job losses, more people starting to look for work, or both. A rise in the number of job-seekers raises the rate even if no jobs are lost.
Factory data add some context. September manufacturing output was 3.5% lower than a year earlier, better than the 4.1% fall in the previous reading but worse than the 2% fall forecast.
What It Means for Readers Abroad
A rate above 33% means roughly one in three people looking for work cannot find a job, which limits household spending and adds pressure on public finances. Companies that sell to local consumers feel the weaker demand first.
The one encouraging sign is the factory report. Output was flat in September after a 3% fall in the previous reading, against an expected 0.7% drop.
What Would Confirm or End the Rise
A fourth-quarter rate below 33.6% would show the rise has reversed, and a rate at or above 33.7% would confirm it. A move toward the 32.5% forecast would suggest the third quarter was an outlier.
For factories, a rise in output above 0% on the month would extend the stabilisation. A year-on-year fall smaller than 3.5% would show the decline narrowing.
What Is Not Known Yet
It is not yet known which sectors drove the change in jobs. Stats SA’s full report will show whether employment rose or fell.
More: South Africa news in English, every day from The Rio Times. Earlier reading: South Africa unemployment in the second quarter.
Sources: figures, forecasts and earlier values from the RT economic calendar, which tracks official releases. Earlier values: official national releases. This is news, not investment advice.
Frequently Asked Questions
What was South Africa’s unemployment rate in the third quarter of 2026?
The official rate was 33.7%, up from 33.6% in the second quarter. Analysts had expected 32.5%.
How did South African factories do in September?
Output was flat on the month, better than a forecast fall of 0.7%. It was 3.5% lower than a year earlier, worse than the 2% fall forecast.
How high is youth unemployment?
Stats SA put it at 47.4% for people aged 15 to 34 in the second quarter of 2026. Third-quarter figures were not available at publication.
What would show the labour market is improving?
A fourth-quarter rate below 33.6% would show the rate turning down. A move toward 32.5% would point to a stronger improvement.
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