Zambia Unemployment Rate 1960-2024 (2024)

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What is the unemployment rate in Zambia in 2024? ›

The unemployment rate in Zambia is forecast to 5.90% in 2024. The unemployed people in Zambia is forecast to 0.43m in 2024. The employment rate in Zambia is forecasted to 59.83% in 2024. The total labor force in Zambia is forecasted to 7.30m in 2024.

Zambia unemployment rate for 2022 was 4.37%, a 0.83% decline from 2021. Zambia unemployment rate for 2021 was 5.20%, a 0.83% decline from 2020. Zambia unemployment rate for 2020 was 6.03%, a 0.49% increase from 2019.

The annual inflation rate in Zambia soared for the 11th month to 14.7% in May 2024, the steepest since January 2022, accelerating further from April's 13.8%. Price growth accelerated for both food (16.2% vs 15.7% in April) and non-food products (12.7% vs 11.2%), amid a weakening currency.

The current population of Zambia is 21,107,245 as of Monday, June 17, 2024, based on Worldometer elaboration of the latest United Nations data ¹. Zambia 2023 population is estimated at 20,569,737 people at mid year. Zambia population is equivalent to 0.26% of the total world population.

Zambia ranks among the countries with the highest levels of poverty and inequality globally. Poverty reached 60% of the population in 2022, up from 54.4% in 2015, worsened by limited job creation and declining labor earnings.

Muchinga province had the highest proportion of the population that was poor at 82.6 percent, followed by Western and Northern provinces, with Lusaka (27 percent) and Copperbelt (35.9 percent), having the least poverty levels though higher than in 2015.

As of today, South Africa hit an unemployment rate of 32.1%, making it the country with the highest unemployment rate on the continent in 2024. Djibouti and Eswatini follow closely, with unemployment rates reaching approximately 28 per cent and 25 per cent, respectively.

Zambia's Labor Statistics Branch (2010) reports the unemployment rate is 13% for men and 15% for women. Urban areas have an unemployment rate of 36%, while the rural areas are below average at 6% (LSB 2010).

The lack of experience by youth and lack of access to information, communication, and technology facilities and the internet. Let us highlight four of the above causes in more detail. The first major cause of youth unemployment in Zambia is the low economic growth rate, which is insufficient to generate enough jobs.

The collapse of the housing bubble in 2007 and 2008 caused a deep recession, which sent the unemployment rate to 10.0% in Oct. 2009—more than double its pre-crisis rate. 1 Since then, the unemployment rate had fallen to below its pre-crisis lows, indicating that the spike in unemployment was cyclical.

What is the unemployment rate in 2024? ›

US Jobless Rate Highest since January 2022

The unemployment rate in the United States rose to 4% in May 2024, the highest since January 2022, up from 3.9% in the previous month and surprising market expectations, which had forecasted the rate to remain unchanged.

In 1965, the corporate tax rates were reduced to 22% and 48%, from previous rates of 30% and 52%. The Kennedy tax cuts did help expand the economy, resulting in a 106-month economic expansion during the 1960s, which was the longest expansion in US history until the 120-month expansion from 1991-2001.

The water supply drought in the Northeast began in the autumn of 1961 and marked the beginning of a severe water shortage that continued with little relief through the summer of 1966. During this time, throughout much of the Northeast, water supplies remained below normal.

SACRAMENTO – California's employers added 5,200 nonfarm payroll jobs¹ in April 2024 and the unemployment rate remained unchanged for a third consecutive month holding steady at 5.3 percent², according to data released by the Employment Development Department (EDD).

Zambia ranks among the countries with the highest levels of poverty and inequality globally. Poverty reached 60% of the population in 2022, up from 54.4% in 2015, worsened by limited job creation and declining labor earnings.

It is the smallest province in Zambia, with an area of 21,896 km². Lusaka is also Zambia's most populated and most densely populated province, with a population of 3,079,964 and density of 140 persons per km² as of 2022. It is the most urban province, with the most doctors and fewest malaria-related incidents.