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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Unemployed Persons climbed to 8.48M in April 2026
FMPMonthlyReleased August 2026
South Africa Unemployed Persons climbed to 8.48M in April 2026, released August 2026, up 0.34M from March's 8.14M reading. The reading matched the 8.3M consensus. Year-over-year, the indicator is up 0.11M. Unemployed Persons is now the highest in 100 months.
Latest Release
8.481
Actual
8.3
Consensus
8.137
Previous
Median Absolute Error
±0.09 million
across last 12 releases
Last Call
Aug 2026
Predicted: 8.3
Actual: 8.48
Error: -0.18
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unemployed Persons (South Africa) was reported at 8.48 million in August 2026. This beat the market consensus of 8.30 million by 0.18 million. The reading rose from the previous value of 8.14 million. Trailing 12-month context per ETL data through August 2026.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 8.15 million, down from the prior three at 8.20 million. In August readings over the past 3 years, Unemployed Persons has averaged 8.41 million.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 0.09 million.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Inflation Rate MoM (Sep 23) and Inflation Rate YoY (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Unemployed Persons - ZA
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About Unemployed Persons — South Africa
DEFINITION
Unemployed Persons is a financial indicator that measures the number of individuals who are currently without a job but are actively seeking employment. This data is used to assess the overall health of the labor market and can provide insights into the state of the economy. A high number of unemployed persons may indicate a weak job market, while a low number may suggest a strong economy with ample job opportunities. This indicator is closely monitored by policymakers, businesses, and investors to make informed decisions about economic policies, hiring practices, and investment strategies.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 8.481 M, consensus 8.3 M. Prior reading (Apr 2026): 8.481 M. Before that (Jan 2026): 8.137 M.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.
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Economic Calendar - ZA Events
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | ZA | Inflation Expectations | 4.2 | 4.4 | 4.40 | Low | |
| 11:00 | ZA | Retail Sales MoM | -0.6 | 0.7 | 1.65 | Low | |
| 11:00 | ZA | Retail Sales YoY | 1.6 | -3 | -2.70 | Low | |