South Africa’s unemployment rate increased to 32.1% in Q4 2023 as job cuts in the social services and agriculture sectors took their toll, rising from 31.9% in Q3. This uptick could diminish voter support for the AMC ahead of upcoming elections and strain the country’s finances further, as fewer individuals pay taxes and more rely on welfare. The unemployment rate may continue to climb due to declining commodity prices, energy shortages, and logistical issues affecting mining profits.