Labour Costs in South Africa increased to 177.40 points in the second quarter of 2020 from 163.60 points in the first quarter of 2020. source: South African Reserve Bank

Labour Costs in South Africa averaged 49.12 points from 1970 until 2020, reaching an all time high of 177.40 points in the second quarter of 2020 and a record low of 1 points in the first quarter of 1970. This page provides the latest reported value for - South Africa Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Labour Costs - values, historical data and charts - was last updated on January of 2021.

Labour Costs in South Africa is expected to be 158.76 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in South Africa to stand at 162.00 in 12 months time. In the long-term, the South Africa Labour Costs is projected to trend around 168.43 points in 2021 and 174.77 points in 2022, according to our econometric models.

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South Africa Labour Costs

Actual Previous Highest Lowest Dates Unit Frequency
177.40 163.60 177.40 1.00 1970 - 2020 points Quarterly
SA, 2010=100

South Africa Labour Last Previous Highest Lowest Unit
Unemployment Rate 30.80 23.30 30.80 21.50 percent [+]
Employed Persons 9581000.00 9548000.00 10231000.00 3694977.00 [+]
Unemployed Persons 6500.00 4300.00 7069.65 3873.00 Thousand [+]
Labor Force Participation Rate 54.20 47.30 60.80 47.30 percent [+]
Labour Costs 177.40 163.60 177.40 1.00 points [+]
Wages 22579.00 21448.00 22579.00 6742.00 ZAR/Month [+]
Wages in Manufacturing 18857.00 17003.00 19379.00 6250.00 ZAR/Month [+]
Population 58.80 58.78 58.80 17.46 Million [+]
Retirement Age Women 60.00 60.00 60.00 60.00 [+]
Retirement Age Men 60.00 60.00 65.00 60.00 [+]
Minimum Wages 20.76 20.00 20.76 20.00 ZAR/Hour [+]
Youth Unemployment Rate 52.30 59.00 59.00 48.80 percent [+]
Employment Rate 37.51 36.26 46.17 36.26 percent [+]