RFA Breakfast Paper - August 11, 2026
South Africa’s Unemployment Rate Climbs to Four-Year High
South Africa’s unemployment rate increased to 33.6% in Q2 2026 from 32.7% in Q1, reaching its highest level since Q2 2022 and highlighting continued weakness in the labour market. The number of unemployed people rose 4.2% to 8.481 million, while employment edged down 0.1% to 16.739 million. Although the labour force expanded 1.3% to 25.220 million, the participation rate slipped to 59.6%, indicating weaker engagement with the labour market. The potential labour force declined by 280,000 to 4.571 million, while those outside the labourforce for other reasons increased by 72,000 to 12.519 million. Broader measures of labour market slack also deteriorated, with the combined unemployment and time-related underemployment rate rising to 36.6% from 35.9%, while the combined unemployment and potential labourforce measure edged up to 43.8% from 43.7%. The broader measure of labour underutilization remained elevated at 46.3%.
U.S. Stocks close lower ahead of inflation data
U.S. equity markets ended lower on Tuesday as investors looked ahead to this week’s inflation reports, with Wednesday’s CPI data the key near-term focus. Bond yields moved lower, with the 10-year U.S. Treasury yield near 4.69%. International markets were mixed across Asia and Europe. In energy markets, WTI crude rebounded to around $83 per barrel as investors weighed ongoing diplomatic efforts to ease disruptions in the Strait of Hormuz. The U.S. dollar was little changed against major currencies.
NGX Pulls Back as Profit-Taking Hits Large-Cap Stocks
The Nigerian equity market closed lower on Tuesday, with the NGX-ASI and Market Capitalization both declining by 0.73% as renewed profit-taking weighed on medium- and large-cap stocks, including MTNN, DANGSUGAR, GTCO, and NB. The NGX-ASI fell 1,806.18 points to close at 246,723.57, while Market Capitalization declined by ₦1.17 trillion to ₦159.26 trillion. FTNCOCOA led the gainers with a 9.88% advance, followed by CILEASING, SOVRENINS, REGALINS, UNIVINSURE, and CADBURY. On the downside, THOMASWY declined 9.97%, followed by AVACAP, INTENEGINS, INTBREW, GUINEAINS, and MTNN. Market breadth was balanced, with 27 gainers and 27 losers.
