Statistician General Pali Lehohla on Tuesday announced that South Africa’s unemployment rate, for the third quarter of 2016, has climbed to 27.1%.
This rate is said to be the highest seen since 2003.
Dr Iraj Abedien, executive chairman at Pan-African Capital Holdings says there is no quick fixing to this situation.
The economy is not growing, you cannot create jobs unless the economy is growing. And you cannot grow the economy unless investment happens.— Iraj Abidian, Executive Chairman at Pan-African Capital Holdings
He says we haven't been promoting investment in South Africa. The private sector is continuously being hammered and the country continues to get itself in controversial issues of negative nature.
If investment doesn't take place don't expect jobs in fact expect closure and scaling down.— Iraj Abidian, Executive Chairman at Pan-African Capital Holdings
Abedien says another contributing factor is that our educational system has been in eternal turmoil which makes the graduates we produce not employable. We need to have the right labour force, graduates, skills and the right mindset for the type of industries of the 21st century.
To hear how South Africa can improve its employment rate, listen below: