Anchor Capital: South Africa 2Q26 unemployment rate rises to 33.6%

Anchor Capital flagged renewed strain in South Africa’s labor market in 2Q26, with the official unemployment rate rising to 33.6%.

• Unemployed people increased by 345,000 to 8.5 million; employment slipped by 16,000 to 16.7 million as the labor force grew by 329,000.
• Formal employment fell by 41,000 to 12.1 million; informal jobs rose by 34,000 to 3.6 million, pointing to deteriorating job quality.
• Youth unemployment climbed to 47.4%, with unemployed 15-34 year olds up 264,000 to 5 million; youth employment fell by 40,000.
• Risks cited include weak domestic demand, structural constraints, and geopolitical-driven cost pressures; job creation is seen constrained into the second half.