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Chart of the week

Tannan Groenewald
Namibia's unemployment rate is estimated to be 43.0% in 2024, making it the highest known unemployment rate in the world.



Since independence, Namibia has seen no material improvement in its unemployment rate, which spiked to over 30% at the start of the century and has consistently hovered around the 30-35% mark. Unfortunately, no data beyond 2018 has been made available by Namibia's official statistics agency, despite previously collecting this data nearly every year since 2008. However, according to Afrobarometer data, Namibia's unemployment rate has risen to a [quite unbelievable] 43.0% in 2024.



Unemployed Namibians find it extremely difficult to secure a job. The Namibia Labour Force Survey of 2018 reported that three in four unemployed jobseekers had been out of work for more than a year. This pattern is consistent across rural/urban and male/female respondents, with 70-76% reporting this length of unemployment.



Public confidence in the government’s ability to create jobs has dropped to an all-time low in 2024, with nearly 90% believing the government is performing either "fairly badly" or "very badly" in this area. Confidence in other areas - such as stabilising prices, reducing inequality, addressing educational needs, improving basic health services, fighting corruption, and more - has also declined to all-time lows in 2024.



In each round of the Afrobarometer survey, unemployment remains, by far, the issue that the public most urgently believes the government must address. These drops in confidence, alongside other statistics recording rising public unrest and discontent, correlate strongly with diminishing public trust and support for the government.



Afrobarometer's national partner in Namibia, Survey Warehouse, regularly collects unemployment statistics [and more] using nationally representative, random, stratified probability samples of 1 200 adult citizens. A sample of this size provides country-level results with a margin of error of ±3 percentage points at a 95% confidence level.

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Katima Mulilo: 19° | 27° Rundu: 19° | 30° Eenhana: 20° | 35° Oshakati: 23° | 34° Ruacana: 21° | 35° Tsumeb: 19° | 28° Otjiwarongo: 19° | 30° Omaruru: 22° | 36° Windhoek: 22° | 31° Gobabis: 20° | 32° Henties Bay: 16° | 21° Swakopmund: 16° | 18° Walvis Bay: 16° | 21° Rehoboth: 22° | 34° Mariental: 25° | 36° Keetmanshoop: 23° | 39° Aranos: 24° | 36° Lüderitz: 16° | 28° Ariamsvlei: 22° | 39° Oranjemund: 15° | 25° Luanda: 25° | 27° Gaborone: 22° | 31° Lubumbashi: 17° | 19° Mbabane: 16° | 25° Maseru: 17° | 32° Antananarivo: 17° | 25° Lilongwe: 17° | 26° Maputo: 22° | 32° Windhoek: 22° | 31° Cape Town: 17° | 29° Durban: 21° | 25° Johannesburg: 17° | 29° Dar es Salaam: 27° | 32° Lusaka: 17° | 21° Harare: 17° | 21° Currency: GBP to NAD 22.92 | EUR to NAD 19.09 | CNY to NAD 2.5 | USD to NAD 18.09 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.17 | INR to NAD 0.21 | USD to DZD 132.89 | USD to AOA 910.98 | USD to BWP 13.67 | USD to EGP 49.54 | USD to KES 129.61 | USD to NGN 1678.72 | USD to ZAR 18.09 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 84700.44 Up +1.25% | Namibian Stock Exchange (NSX) Overall Index 1834.96 Up +2.25% | Casablanca Stock Exchange (CSE) MASI 16021.76 Down -0.37% | Egyptian Exchange (EGX) 30 Index 29728.61 Up +0.42% | Botswana Stock Exchange (BSE) DCI 10061.77 Up +0.02% | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 708.65/OZ UP +0.45% | Copper US$ 4.29/lb DOWN -0.0096 | Zinc US$ 2 980.00/T UP 0.75% | Brent Crude Oil US$ 79.91/BBP DOWN -0.0162 | Platinum US$ 947.64/OZ DOWN -0.0016 Sport results: Weather: Katima Mulilo: 19° | 27° Rundu: 19° | 30° Eenhana: 20° | 35° Oshakati: 23° | 34° Ruacana: 21° | 35° Tsumeb: 19° | 28° Otjiwarongo: 19° | 30° Omaruru: 22° | 36° Windhoek: 22° | 31° Gobabis: 20° | 32° Henties Bay: 16° | 21° Swakopmund: 16° | 18° Walvis Bay: 16° | 21° Rehoboth: 22° | 34° Mariental: 25° | 36° Keetmanshoop: 23° | 39° Aranos: 24° | 36° Lüderitz: 16° | 28° Ariamsvlei: 22° | 39° Oranjemund: 15° | 25° Luanda: 25° | 27° Gaborone: 22° | 31° Lubumbashi: 17° | 19° Mbabane: 16° | 25° Maseru: 17° | 32° Antananarivo: 17° | 25° Lilongwe: 17° | 26° Maputo: 22° | 32° Windhoek: 22° | 31° Cape Town: 17° | 29° Durban: 21° | 25° Johannesburg: 17° | 29° Dar es Salaam: 27° | 32° Lusaka: 17° | 21° Harare: 17° | 21° Economic Indicators: Currency: GBP to NAD 22.92 | EUR to NAD 19.09 | CNY to NAD 2.5 | USD to NAD 18.09 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.17 | INR to NAD 0.21 | USD to DZD 132.89 | USD to AOA 910.98 | USD to BWP 13.67 | USD to EGP 49.54 | USD to KES 129.61 | USD to NGN 1678.72 | USD to ZAR 18.09 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 84700.44 Up +1.25% | Namibian Stock Exchange (NSX) Overall Index 1834.96 Up +2.25% | Casablanca Stock Exchange (CSE) MASI 16021.76 Down -0.37% | Egyptian Exchange (EGX) 30 Index 29728.61 Up +0.42% | Botswana Stock Exchange (BSE) DCI 10061.77 Up +0.02% | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 708.65/OZ UP +0.45% | Copper US$ 4.29/lb DOWN -0.0096 | Zinc US$ 2 980.00/T UP 0.75% | Brent Crude Oil US$ 79.91/BBP DOWN -0.0162 | Platinum US$ 947.64/OZ DOWN -0.0016