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South Africa\u2019s unemployment rate dropped to the lowest level in more than five years in the fourth quarter, as the community and social services and construction sectors added workers.<\/p>\n
The jobless rate declined to 31.4% in the three months through December, from 31.9% in the prior quarter, according to data released by Statistics South Africa in Pretoria on Tuesday. That was the lowest reading since the third quarter of 2020. The median estimate of three economists in a Bloomberg survey was 31.7%.<\/p>\n
Listen:\u00a0The economic cost of SA\u2019s long growth drought<\/p>\n
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The outcome offers a lift to an economy that is underperforming and saddled with one of the world\u2019s highest jobless rates. South Africa\u2019s unemployment rate has now been above 30% since the height of the pandemic in 2020.<\/p>\n
Listen:\u00a0Wage inflation versus productivity: A growing threat to employment<\/p>\n
Last week, President Cyril Ramaphosa renewed his pledge to fast-track reforms aimed at boosting growth, drawing investment and streamlining the state \u2014 steps that could generate jobs if followed through. Finance Minister Enoch Godongwana is expected to announce more details when he delivers the annual budget on Feb. 25.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
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