As of January 2024, Johann Rupert and his family are the richest people in South Africa with a net worth of 9.6 billion U.S. dollars. The Rupert family are ranked at 224 globally and are the second richest people in Africa after Nigerian billionaire, Aliko Dangote, reclaimed the title. Rupert's net worth dropped by 2.2 billion U.S. dollars from 2023, mainly due to a decline in the market value of luxury goods company Richemont, where he owns an estimated 9.14 percent stake. Nicky Oppenheimer and his family placed as the second richest in South Africa, with a net worth of 9.4 billion U.S. dollars and ranking at 232 worldwide. Their net worth source was mostly founded via the diamond market. They were followed by Koos Bekker, the chairman of media group Naspers, with 2.6 billion U.S. dollars who placed 1,202 globally. Patrice Motsepe, the first black African on the Forbes list and founder of African Rainbow Minerals, ranked 1,208 out of the global billionaires list, with a net worth of 2.6 billion U.S. dollars.

Where does the wealth reside in the continent?

The three largest economies in the continent in terms of Gross Domestic Product (GDP), namely Nigeria, Egypt, and South Africa saw the highest concentration of private wealth in the continent, with South Africa ranking first when it came to private wealth. In fact, out of Africa’s 20 wealthiest families and individuals, 14 of them were from these economies. Since 2010, the number of high net worth individuals in the continent fluctuated peaking at 148 individuals in 2017 and reaching its lowest in 2020 at 125. High net worth individuals are people whose net assets exceed one million U.S. dollars. On the other hand, South Africa suffered from severe income inequality ranking as the most unequal country in the world with a Gini coefficient of 62.73 percent.

In 2021, Southern Africa's richest ** percent held around ** percent of the total wealth. Furthermore, the richest one percent in the region held over ** percent. The other African regions had a slightly smaller share of wealth with the wealthiest people. For instance, in West Africa, the richest ** percent held close to ** percent of the wealth, while the richest one percent held ** percent. On the other hand. The poorest ** percent in all the regions held lower than ***** percent of the wealth.

South Africa concentrated the largest amount of private wealth in Africa as of 2021, some 651 billion U.S. dollars. Egypt, Nigeria, Morocco, and Kenya followed, establishing the five wealthier markets in the continent. The wealth value referred to assets, such as cash, properties, and business interests, held by individuals living in each country, with liabilities discounted. Overall, Africa counted in the same year approximately 136,000 high net worth individuals (HNWIs), each with net assets of one million U.S. dollars or more.

 COVID-19 and wealth constraints  

Africa held 2.1 trillion U.S. dollars of total private wealth in 2021. The amount slightly increased in comparison to the previous year, when the coronavirus (COVID-19) pandemic led to job losses, drops in salaries, and the closure of many local businesses. However, compared to 2011, total private wealth in Africa declined 4.5 percent, constrained by poor performances in Angola, Egypt, and Nigeria. By 2031, however, the private wealth is expected to rise nearly 40 percent in the continent.

 The richest in Africa 

Besides 125 thousand millionaires, Africa counted 6,700 multimillionaires and 305 centimillionaires as of December 2021. Furthermore, there were 21 billionaires in the African continent, each with a wealth of one billion U.S. dollars and more. The richest person in Africa is the Nigerian Aliko Dangote. The billionaire is the founder and chairman of Dangote Cement, the largest cement producer on the whole continent. He also owns salt and sugar manufacturing companies.

The average monthly salary for South Africans who were employed in the formal non-agricultural sector was just over 26,800 South African rands (comparable to roughly 1,500 U.S. dollars) in November 2023, which represented a yearly increase of tw0 percent. During the period under review, the overall growth trend was positive, with the earnings increasing by 24.4 percent from 21,500 South African rands (approximately 1,180 U.S. dollars) in November 2018.    Minimum wage and highest-paid professions    Starting in March 2023, the minimum hourly wage in the country increased to 25.42 South African rands (comparable to 1.40 U.S. dollars), which represented an increase of 9.6 percent from 23.19 South African rands (1.27 U.S. dollars) per hour in the preceding year. On the other hand, professionals in executive and change management positions were paid the highest salaries in South Africa, with an average of 74,000 U.S. dollars yearly. Individuals with jobs in retail, trade, and craft followed, receiving an average of 66,000 U.S. dollars per annum.       Highest unemployment among Black South Africans In 2022, the unemployment rate in South Africa was nearly 30 percent following an increasing trend since 2008. The rate was highest among Black South Africans reaching as high as 36.8 percent in the second quarter of 2023. Moreover, Colored South Africans followed with around 22 percent, while white South Africans had a much lower unemployment rate of over 7 percent.

Graph and download economic data for Real Disposable Personal Income (DSPIC96) from Jan 1959 to Aug 2025 about disposable, personal income, personal, income, real, and USA.

Goal 10Reduce inequality within and among countriesTarget 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national averageIndicator 10.1.1: Growth rates of household expenditure or income per capita among the bottom 40 per cent of the population and the total populationSI_HEI_TOTL: Growth rates of household expenditure or income per capita (%)Target 10.2: By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other statusIndicator 10.2.1: Proportion of people living below 50 per cent of median income, by sex, age and persons with disabilitiesSI_POV_50MI: Proportion of people living below 50 percent of median income (%)Target 10.3: Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regardIndicator 10.3.1: Proportion of population reporting having personally felt discriminated against or harassed in the previous 12 months on the basis of a ground of discrimination prohibited under international human rights lawVC_VOV_GDSD: Proportion of population reporting having felt discriminated against, by grounds of discrimination, sex and disability (%)Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equalityIndicator 10.4.1: Labour share of GDPSL_EMP_GTOTL: Labour share of GDP (%)Indicator 10.4.2: Redistributive impact of fiscal policySI_DST_FISP: Redistributive impact of fiscal policy, Gini index (%)Target 10.5: Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulationsIndicator 10.5.1: Financial Soundness IndicatorsFI_FSI_FSANL: Non-performing loans to total gross loans (%)FI_FSI_FSERA: Return on assets (%)FI_FSI_FSKA: Regulatory capital to assets (%)FI_FSI_FSKNL: Non-performing loans net of provisions to capital (%)FI_FSI_FSKRTC: Regulatory Tier 1 capital to risk-weighted assets (%)FI_FSI_FSLS: Liquid assets to short term liabilities (%)FI_FSI_FSSNO: Net open position in foreign exchange to capital (%)Target 10.6: Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutionsIndicator 10.6.1: Proportion of members and voting rights of developing countries in international organizationsSG_INT_MBRDEV: Proportion of members of developing countries in international organizations, by organization (%)SG_INT_VRTDEV: Proportion of voting rights of developing countries in international organizations, by organization (%)Target 10.7: Facilitate orderly, safe, regular and responsible migration and mobility of people, including through the implementation of planned and well-managed migration policiesIndicator 10.7.1: Recruitment cost borne by employee as a proportion of monthly income earned in country of destinationIndicator 10.7.2: Number of countries with migration policies that facilitate orderly, safe, regular and responsible migration and mobility of peopleSG_CPA_MIGRP: Proportion of countries with migration policies to facilitate orderly, safe, regular and responsible migration and mobility of people, by policy domain (%)SG_CPA_MIGRS: Countries with migration policies to facilitate orderly, safe, regular and responsible migration and mobility of people, by policy domain (1 = Requires further progress; 2 = Partially meets; 3 = Meets; 4 = Fully meets)Indicator 10.7.3: Number of people who died or disappeared in the process of migration towards an international destinationiSM_DTH_MIGR: Total deaths and disappearances recorded during migration (number)Indicator 10.7.4: Proportion of the population who are refugees, by country of originSM_POP_REFG_OR: Number of refugees per 100,000 population, by country of origin (per 100,000 population)Target 10.a: Implement the principle of special and differential treatment for developing countries, in particular least developed countries, in accordance with World Trade Organization agreementsIndicator 10.a.1: Proportion of tariff lines applied to imports from least developed countries and developing countries with zero-tariffTM_TRF_ZERO: Proportion of tariff lines applied to imports with zero-tariff (%)Target 10.b: Encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programmesIndicator 10.b.1: Total resource flows for development, by recipient and donor countries and type of flow (e.g. official development assistance, foreign direct investment and other flows)DC_TRF_TOTDL: Total assistance for development, by donor countries (millions of current United States dollars)DC_TRF_TOTL: Total assistance for development, by recipient countries (millions of current United States dollars)DC_TRF_TFDV: Total resource flows for development, by recipient and donor countries (millions of current United States dollars)Target 10.c: By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per centIndicator 10.c.1: Remittance costs as a proportion of the amount remittedSI_RMT_COST: Remittance costs as a proportion of the amount remitted (%)SI_RMT_COST_BC: Corridor remittance costs as a proportion of the amount remitted (%)SI_RMT_COST_SC: SmaRT corridor remittance costs as a proportion of the amount remitted (%)

Abstract

The KwaZulu-Natal Income Dynamics Study (KIDS) is a panel study that follows a random sample of households who lived in the South African province of KwaZulu-Natal (KZN) in 1993. These households and those who have split off from them were interviewed again in 1998 and 2004. This document summarizes the main features of the third wave of KIDS conducted in 2004.

Geographic coverage

The Province of Kwazulu-Natal

Analysis unit

individuals, communities

Universe

The sample covered on African and Indian Households.

Kind of data

Sample survey data [ssd]

Sampling procedure

Due to the geographic concentration of African and Indian households, KIDS-unlike the PSLSD-limits its scope to African and Indian households. In the KwaZulu-Natal province, Africans represent 85 percent of the population and Indians represent 12 percent. Compared with their representation nationally, White and Coloured people are underrepresented in KwaZulu-Natal. Effectively, the numbers of White and Coloureds in the KwaZulu-Natal sample are too small, and too geographically concentrated in a few clusters, to permit meaningful inference. The KIDS study has thus been limited to the first two population groups.

PSLSD was a survey of households. However, households are a complicated object to define, particularly in longitudinal studies. To transform KIDS from a single-round household survey into a longitudinal household panel study required a redefinition of the sampling unit. In 1998, a decision was made to follow the core household members with the intention of capturing the major decision makers within the household.

A household member is a core person if he/she satisfied any of the following criteria: - The self-declared head of household from the 1993 survey - A spouse/partner of the self-declared head of household (from the 1993 survey) - Lives in a three generation household and all of the following are true: - Child of the self-declared household head, son/daughter-in-law of the household head, or niece/nephew of self-declared head - At least 30 years old - Have at least one child living in household - Spouse/partner of person satisfying criterion.

Thus all heads of households and spouses of heads are automatically classified as core and, in some three-generation households, adult children are also included in this cateogry. In this way, we can see the 1993 survey as the baseline information for a random sample of dynasties. The efforts of the 1998 and 2004 surveyors to find the location of the 1993 core members can then be seen as a way to keep track of the 1993 dynasties.

In 2004, due to the aging of the core members and the high prevalence of HIV/AIDS in South Africa, the study was extended in a complementary way to track and interview the households of the children of the core or the next generation. These are sons and daughters of core members older than 18, who have established a "new" household since 1993 (labeled as "K"). By establishing a new household we mean that these children are now living away from their own parents with their own children, or with the children of their partner. Using the next generation to keep track of family "dynasties" provides a way of refreshing the panel and establishing a generational transition. In addition, due to our interest in the impact on children of the HIV/AIDS epidemic, the 2004 wave followed foster children to their new households. This group is defined as children aged less than 18 years old of core and next generation household members who no longer live with their parents i.e. no longer live in core or next generation households (labeled as "N"). As described in Appendix A, different questionnaire modules were administered in the core, next generation, and foster child households.

As the goal of the 2004 wave of KIDS was to find and interview the households of the children of the core and the foster children in addition to those of the regular core members, we had three ways in which we could contact the 1993 dynasties. In 1998, almost 84% of the 1993 dynasties were found as documented by May et al. (2000). From the 1132 dynasties interviewed in 1998, the 2004 wave found 841, yielding a response rate of 74%. Most of these dynasties were still composed of the original core members (760) however some of them were represented by the next generation of household members (K) or foster children (N).

Mode of data collection

Face-to-face [f2f]

Research instrument

Household Questionnaire containing the following sections:

Household Roster Household Services Food Spending and Consumption Non-Food Spending and Assets Remittances Household Income from Non-Employment Sources Economic Shocks, Agriculture Employment Health Social Capital and Trust Children Tests of Learning and Anthropometry

Response rate

In 1998, almost 84% of the 1993 dynasties were found as documented by May et al. (2000). From the 1132 dynasties interviewed in 1998, the 2004 wave found 841, yielding a response rate of 74%. Most of these dynasties were still composed of the original core members (760) however some of them were represented by the next generation of household members (K) or foster children (N).

Time series data for the statistic Starting a business: Cost - Men (% of income per capita) - Score and country South Africa. Indicator Definition:The score for the cost for men benchmarks economies with respect to the regulatory best practice on the indicator. The score ranges from 0 to 100, where 0 represents the worst regulatory performance and 100 the best regulatory performance.The indicator "Starting a business: Cost - Men (% of income per capita) - Score" stands at 99.89 as of 12/31/2019, the highest value at least since 12/31/2004, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 0.0023 percent compared to the value the year prior.The 1 year change in percent is 0.0023.The 3 year change in percent is 0.0159.The 5 year change in percent is 0.0321.The 10 year change in percent is 2.92.The Serie's long term average value is 98.20. It's latest available value, on 12/31/2019, is 1.73 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/2003, to it's latest available value, on 12/31/2019, is +4.84%.The Serie's change in percent from it's maximum value, on 12/31/2019, to it's latest available value, on 12/31/2019, is 0.0%.

In Brazil, the richest percent holds nearly **** of the country's total wealth, indicating a high level of inequality in the Latin American country. Meanwhile, in Japan, the richest percent held less than ** percent of the total wealth. Worldwide, South Africa had the highest Gini index, a measure of income distribution.

By 2030, the middle-class population in Asia-Pacific is expected to increase from **** billion people in 2015 to **** billion people. In comparison, the middle-class population of sub-Saharan Africa is expected to increase from *** million in 2015 to *** million in 2030. Worldwide wealth While the middle-class has been on the rise, there is still a huge disparity in global wealth and income. The United States had the highest number of individuals belonging to the top one percent of wealth holders, and the value of global wealth is only expected to increase over the coming years. Around ** percent of the world’s population had assets valued at less than 10,000 U.S. dollars, while less than *** percent had assets of more than one million U.S. dollars. Asia had the highest percentage of investable assets in the world in 2018, whereas Oceania had the highest percentage of non-investable assets. The middle-class The middle class is the group of people whose income falls in the middle of the scale. China accounted for over half of the global population for middle-class wealth in 2017. In the United States, the debate about the middle class “disappearing” has been a popular topic due to the increase in wealth among the top billionaires in the nation. Due to this, there have been arguments to increase taxes on the rich to help support the middle class.

Seychelles recorded the highest Gross National Income (GNI) per capita in Africa as of 2023, at 16,940 U.S. dollars. The African island was, therefore, the only high-income country on the continent, according to the source's classification. Mauritius, Gabon, Botswana, Libya, South Africa, Equatorial Guinea, Algeria, and Namibia were defined as upper-middle-income economies, those with a GNI per capita between 4,516 U.S. dollars and 14,005 U.S. dollars. On the opposite, 20 African countries recorded a GNI per capita below 1,145 U.S. dollars, being thus classified as low-income economies. Among them, Burundi presented the lowest income per capita, some 230 U.S. dollars. Poverty and population growth in Africa Despite a few countries being in the high income and upper-middle countries classification, Africa had a significant number of people living under extreme poverty. However, this number is expected to decline gradually in the upcoming years, with experts forecasting that this number will decrease to almost 400 million individuals by 2030 from nearly 430 million in 2023, despite the continent currently having the highest population growth rate globally. African economic growth and prosperity In recent years, Africa showed significant growth in various industries, such as natural gas production, clean energy generation, and services exports. Furthermore, it is forecast that the GDP growth rate would reach 4.5 percent by 2027, keeping the overall positive trend of economic growth in the continent.

As of April 2025, South Africa's GDP was estimated at over 410 billion U.S. dollars, the highest in Africa. Egypt followed, with a GDP worth around 347 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with nearly 269 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

As of 2024, an individual living in South Africa with less than 1,109 South African rand (roughly 62.14 U.S. dollars) per month was considered poor. Furthermore, individuals having 796 South African rand (approximately 44.60 U.S. dollars) a month available for food were living below the poverty line according to South African national standards. Absolute poverty National poverty lines are affected by changes in the patterns of household consumers and fluctuations in prices of services and goods. They are calculated based on the consumer price indices (CPI) of both food and non-food items separately. The national poverty line is not the only applicable threshold. For instance,13.2 million people in South Africa were living under 2.15 U.S. dollars, which is the international absolute poverty threshold defined by the World Bank. Most unequal in the globe A prominent aspect of South Africa’s poverty is related to extreme income inequality. The country has the highest income Gini index globally at 63 percent as of 2023. One of the crucial obstacles to combating poverty and inequality in the country is linked to job availability. In fact, youth unemployment was as high as 49.14 percent in 2023.

Seychelles had the largest Gross Domestic Product (GDP) per capita in Africa as of 2024. The value amounted to 21,630 U.S. dollars. Mauritius followed with around 12,330 U.S. dollars, whereas Gabon registered 8,840 U.S. dollars. GDP per capita is calculated by dividing a country’s GDP by its population, meaning that some of the largest economies are not ranked within the leading ten. Impact of COVID-19 on North Africa’s GDP When looking at the GDP growth rate in Africa in 2024, Libya had the largest estimated growth in Northern Africa, a value of 7.8 percent compared to the previous year. Niger and Senegal were at the top of the list with rates of 10.4 percent and 8.3 percent, respectively. During the COVID-19 pandemic, the impact on the economy was severe. The growth of the North African real GDP was estimated at minus 1.1 percent in 2020. However, estimations for 2022 looked much brighter, as it was set that the region would see a GDP growth of six percent, compared to four percent in 2021.
Contribution of Tourism Various countries in Africa are dependent on tourism, contributing to the economy. In 2023, travel and tourism were estimated to contribute 182.6 billion U.S. dollars, a clear increase from 96.5 in 2020 following COVID-19. As of 2024, South Africa, Mauritius, and Egypt led tourism in the continent according to the Travel & Tourism Development Index.

In 2024, the Gini coefficient of wealth in India stood at **. This was a slight decrease from previous years. The trend since 2005 shows rising inequalities among the Indian population. What is Gini coefficient of wealth? The Gini coefficient is a measure of wealth inequality. The coefficient of the Gini index ranges from 0 to 1 with 0 representing perfect equality and 1 representing perfect inequality. Wealth and income distribution and inequality can however vary greatly. In 2023, South Africa topped the list of the most unequal countries in the world in terms of income inequality. Why do economic inequalities persist in India? By the end of 2022, the richest citizens in the country owned more than ** percent of the country’s wealth. Asia’s two richest men Mukesh Ambani and Gautam Adani are Indians. The number of high-net-worth individuals has continuously increased over the last decades. While millions of people escaped poverty in the country in the last few years, the wealth distribution between rich and poor remains skewed. Crony capitalism and the accumulation of wealth through inheritance are some of the factors behind this widening gap.

This statistic shows the inequality of income distribution in China from 2005 to 2023 based on the Gini Index. In 2023, China reached a score of ************ points. The Gini Index is a statistical measure that is used to represent unequal distributions, e.g. income distribution. It can take any value between 1 and 100 points (or 0 and 1). The closer the value is to 100 the greater is the inequality. 40 or 0.4 is the warning level set by the United Nations. The Gini Index for South Korea had ranged at about **** in 2022. Income distribution in China The Gini coefficient is used to measure the income inequality of a country. The United States, the World Bank, the US Central Intelligence Agency, and the Organization for Economic Co-operation and Development all provide their own measurement of the Gini coefficient, varying in data collection and survey methods. According to the United Nations Development Programme, countries with the largest income inequality based on the Gini index are mainly located in Africa and Latin America, with South Africa displaying the world's highest value in 2022. The world's most equal countries, on the contrary, are situated mostly in Europe. The United States' Gini for household income has increased by around ten percent since 1990, to **** in 2023. Development of inequality in China Growing inequality counts as one of the biggest social, economic, and political challenges to many countries, especially emerging markets. Over the last 20 years, China has become one of the world's largest economies. As parts of the society have become more and more affluent, the country's Gini coefficient has also grown sharply over the last decades. As shown by the graph at hand, China's Gini coefficient ranged at a level higher than the warning line for increasing risk of social unrest over the last decade. However, the situation has slightly improved since 2008, when the Gini coefficient had reached the highest value of recent times.

As of the second quarter of 2024, nearly 3.83 million people in South Africa worked within the community and social services industry. The sector concentrated the highest number of employees, followed by the trade industry, which employed about 3.36 million people. A struggling labor market The South African labor market faces severe challenges and obstacles. In 2023, the country had the highest unemployment rate in Africa, with almost 30 percent of the labor force being jobless. In addition, only 40 percent of the population was employed in 2021. Indeed, South Africans were the most concerned globally about finding jobs and being unemployed. According to a survey, 64 percent of South African respondents reported being worried about unemployment as of September 2023. A highly unequal country South Africa is the most income-unequal country in the world, as it registered a Gini score of 63 in 2021. The major reasons for this inequality originate from the country’s infamous Apartheid regime and the failure of the job market to provide enough opportunities for its people. For example, the unemployment rate among Black South Africans was close to 37 percent, compared to eight percent for white South Africans. Furthermore, unemployment in the country was more widespread among individuals with a lower level of education. Specifically, in 2023, over 50 percent of the jobless South Africans had an education level lower than matric (grade 12).

As of 2024, around **** million people in South Africa are living in extreme poverty, with the poverty threshold at **** U.S. dollars daily. This means that ******* more people were pushed into poverty compared to 2023. Moreover, the headcount was forecast to increase in the coming years. By 2030, over **** million South Africans will live on a maximum of **** U.S. dollars per day. Who is considered poor domestically? Poverty is measured using several matrices. For example, local authorities tend to rely on the national poverty line, assessed based on consumer price indices (CPI) of a basket of goods of food and non-food components. In 2023, the domestic poverty line in South Africa stood at ***** South African rand per month (around ***** U.S. dollars per month). According to a survey, social inequality and poverty worried a significant share of the South African respondents. As of September 2024, some ** percent of the respondents reported that they were worried about the state of poverty and unequal income distribution in the country.   Eastern Cape residents received more grants South Africa’s labor market has struggled to absorb the country’s population. In 2023, almost a third of the economically active population was unemployed. Local authorities employ relief assistance and social grants in an attempt to reduce poverty and assist poor individuals. In 2023, almost ** percent of South African households received state support, with the majority share benefiting in the Eastern Cape.

In the second quarter of 2024, the unemployment rate among Black South Africans was 36.9 percent, marking a year-on-year change of 0.8 percent compared to the second quarter of 2023. On the other hand, the unemployment rate among white South Africans was 7.9 percent in the second quarter of 2024, with a 0.5 percent year-on-year change. Unemployment prevalent among youth and women The unemployment rate is the share of the labor force population that is unemployed, while the labor force includes individuals who are employed as well as those who are unemployed but looking for work. South Africa is struggling to absorb its youth into the job market. For instance, the unemployment rate among young South Africans aged 15-24 years reached a staggering 60.7 percent in the second quarter of 2023. Furthermore, women had higher unemployment rates than men. Since the start of 2016, the unemployment rate of women has been consistently more than that of men, reaching close to 36 percent compared to 30 percent, respectively. A new minimum wage and most paying jobs      In South Africa, a new minimum hourly wage went into effect on March 1, 2022. The minimum salary reached 23.19 South African rand per hour (1.44 U.S. dollars per hour), up from 21.69 South African rand per hour (1.35 U.S. dollars per hour) in 2021. In addition, the preponderance of employed South Africans worked between 40 and 45 hours weekly in 2021. Individuals holding Executive Management and Change Management jobs were the highest paid in the country, with salaries averaging 74,000 U.S. dollars per year.