Unemployment rate (27.2%) doesn’t include 4 million who've given up finding work

pixabay.com (2018)

I remember the promise that we were going to halve unemployment… by 2014…

Mike Schüssler

It’s a crisis… We’re cautious of the stimulus package… The numbers are beyond worrying…

Mamokgethi Molopyane

South Africa’s unemployment rate rose to 27.2% in the second quarter of 2018, according to Statistics South Africa.

The rate of unemployment in Africa’s most developed economy was 26.7% in the first three months of the year.

Unemployment rates in the Eastern Cape, Northern Cape, KwaZulu-Natal and North West are higher than their employment rates.

There are now 6.1 million South Africans without jobs.

When including discouraged job seekers, the unemployment rate comes in at 37.2% or almost 10 million people.

The Money Show’s Bruce Whitfield interviewed Economist Mike Schüssler and Mining and Labour Analyst Mamokgethi Molopyane.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Four out of 10 adults are in work… Only a third of adults are in the formal sector…

Mike Schüssler

The dependency ratio in South Africa is very, very high… Something like the NHI is not realistic at the moment… We need to first have more people working…

Mike Schüssler

American unemployment numbers… they have about 8 million unemployed…

Mike Schüssler

We’ve got a mixture of both [skills problem and a policy problem]... We are sitting with high unemployment and a low-skilled workforce…

Mamokgethi Molopyane

It’s only a matter of time before that spark is lit… for a country with a young population, we don’t have a plan of how we’re going to skill our youth… The urgency in addressing youth unemployment… deserve urgent attention, on its own…

Mamokgethi Molopyane

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our mailing list

* indicates required

This article first appeared on 702 : Unemployment rate (27.2%) doesn’t include 4 million who've given up finding work


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Donald Trump sounds just like H.F. Verwoerd in award-winning Apartheid Museum ad

Donald Trump sounds just like H.F. Verwoerd in award-winning Apartheid Museum ad

This Loerie Award-winning advert for the Apartheid Museum will make your blood boil.

Shoprite sales up, but earnings unexpectedly fall on Angola currency devaluation

Shoprite sales up, but earnings unexpectedly fall on Angola currency devaluation

The Money Show’s Bruce Whitfield interviews Pieter Engelbrecht, CEO of Africa’s largest retailer.

Nigeria is, as you know, all about oil. It’s also about ‘palm oil’

Nigeria is, as you know, all about oil. It’s also about ‘palm oil’

Bruce Whitfield speaks to Africa Connected correspondent Lee Kasumba on the phone from Port Harcourt in Nigeria’s Rivers State.

Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

Pieter-Dirk Uys gets serious about money (‘Evita is my pension!’)

The Money Show’s Bruce Whitfield interviews Uys about his attitude toward money (hopes and fears, successes and failures, etc.).

 ‘Port Harcourt is the capital of oil and gas in Nigeria’

‘Port Harcourt is the capital of oil and gas in Nigeria’

Bruce Whitfield interviews Lee Kasumba, who is on a fact-finding mission in Port Harcourt in Nigeria’s oil-rich Rivers State.

Each year rich countries waste as much food as sub-Saharan Africa produces

Each year rich countries waste as much food as sub-Saharan Africa produces

We waste a third of all food produced. If we avoid 25% of that wastage, it could feed 870 million hungry mouths.

Popular articles
[LISTEN] Cape Town businesswoman targeted in fake invoice scam

[LISTEN] Cape Town businesswoman targeted in fake invoice scam

Jacqui Kaminer says banking officials were unable to investigate the matter further because police failed to open a case for her.

Stealthing: a form of rape, says Dr Tlaleng

Stealthing: a form of rape, says Dr Tlaleng

'Stealthing' is the act of discreetly removing the condom without the knowledge or consent of the other party during sex.

Two young boys go the extra mile to get a sick dog to a vet with just R7

Two young boys go the extra mile to get a sick dog to a vet with just R7

Peter and Jerry gave up their last R7 to get a sick community dog (Lady) to an Animal Welfare shelter for medical attention.

Derelict buildings in Parow earmarked for social housing

Derelict buildings in Parow earmarked for social housing

The affordable rental units will be made available for families with a monthly household income of up to R15 000.

'Almost alcoholics' - the blurred lines between social drinking and alcoholism

'Almost alcoholics' - the blurred lines between social drinking and alcoholism

Sobriety advocate Janet Gourand explains the differences between the social drinker and an almost alcoholic.