Unemployment up to 27.2% this quarter

The rate of unemployment in South Africa has risen by point-5 per cent this quarter.

It might not sound like much, but at 27.2% it translates to 100 000 jobs lost in three months.

READ:Stats SA: Over 6 million people are jobless in South Africa

Speaking to Joanne Joseph, Founder of the Centre for Economic Development and Transformation Duma Gqubule says the losses are part of a trend that has been going on for the past nine years.

What is happening with unemployment is a complete disaster. I have been predicting for quite some time now that if we continue on the current path, we will soon get 10 million people unemployed.

Duma Gqubule, Founder of the Centre for Economic Development and Transformation

Gqubule says we have had a lost decade in terms of economic growth.

Our economy hasn't done anything between 2009 and 2017. The GDP has grown by 0.3 % per year and our GDP per capita has been declining for three whole years.

Duma Gqubule, Founder of the Centre for Economic Development and Transformation

Listen further to the full interview...


This article first appeared on 702 : Unemployment up to 27.2% this quarter


Recommended

by NEWSROOM AI
Read More
Stats SA: Over 6 million people are jobless in South Africa

Stats SA: Over 6 million people are jobless in South Africa

Statistics South Africa has released its quarterly labour force survey for 2018 which shows 27.2% hike in unemployment.

 'Information is what separates the good entrepreneurs from the great ones'

'Information is what separates the good entrepreneurs from the great ones'

Karima Brown sat down with three young entrepreneurs who are creating impactful solutions in their field of work.

What does the law say about fixed term contracts?

What does the law say about fixed term contracts?

Labour law specialist, Jeremy Crawford explains the regulations with regards to fixed-term contracts.

Solutionist Thinking: In Conversation with Yusuf Randera-Rees

Solutionist Thinking: In Conversation with Yusuf Randera-Rees

In the sixth episode of Solutionist Thinking with RMB, Bruce Whitfield speaks with the CEO and co-founder of The Awethu Project, Yusuf Randera-Rees.

[LISTEN] 75 civil societies expected to attend Saftu’s working class summit

[LISTEN] 75 civil societies expected to attend Saftu’s working class summit

Spokesperson for Saftu says that big businesses are part of the problem & not the solution in addressing issues of poverty in SA.

Solutionist Thinking: In Conversation with Tashmia Ismail-Saville

Solutionist Thinking: In Conversation with Tashmia Ismail-Saville

In this episode of Solutionist Thinking with RMB, Bruce Whitfield discusses youth empowerment with YES's Tashmia Ismail-Saville.

Costa Rica went from broken and poor to brilliant and prosperous in 15 years

Costa Rica went from broken and poor to brilliant and prosperous in 15 years

A story of hope for South Africa. The Money Show's Bruce Whitfield interviews Dr Adrian Saville (Cannon Asset Managers, Gibs)

Renewable energy could create jobs

Renewable energy could create jobs

Green Cape energy researcher says that provision of renewables in the country's energy mix would be beneficial in creating jobs.

Nthabeleng Likotsi is on course to establishing SA's first women-owned bank

Nthabeleng Likotsi is on course to establishing SA's first women-owned bank

Likotsi explains the vision for the bank which comes off the back of YWBN - a co-operative financial institution.

Minimum wages are effective when economies are growing fast - Dr Iraj Abedian

Minimum wages are effective when economies are growing fast - Dr Iraj Abedian

Pan-African Investments and Research Services CEO Dr Iraj Abedian on what we should know about the impact of the minimum wage.

98 000 jobs created but more needs to be done, says Ekurhuleni mayor

98 000 jobs created but more needs to be done, says Ekurhuleni mayor

The Ekurhuleni mayor delivered his state of the city address on Tuesday.

[LISTEN] YES plans to assist the six million unemployed youth

[LISTEN] YES plans to assist the six million unemployed youth

CEO at Youth Employment Service explains the aim of the programme and who they are partnering with.

[MUST READ] President Ramaphosa's State of the Nation Address

[MUST READ] President Ramaphosa's State of the Nation Address

President Cyril Ramaphosa is delivering his first State of the Nation Address in the National Assembly.

Red and Yellow Creative School of Business aims to tackle unemployment head-on

Red and Yellow Creative School of Business aims to tackle unemployment head-on

Chair Rob Stokes says Red and Yellow boasts a 98% job placement rate for their students who complete their studies.

Popular articles
How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Plans to end death penalty in Malaysia could see seven South African lives saved

Plans to end death penalty in Malaysia could see seven South African lives saved

The Department Of International Relations says it welcomes plans by the Malaysian government to abolish the death penalty.

'It's unacceptable that government officials pay R75 for luxury apartments'

'It's unacceptable that government officials pay R75 for luxury apartments'

IFP national spokesperson Mkhuleko Hlengwa says the party is calling for a review of these rates that are a cost to taxpayers.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Malema has accused the rogue unit of still being operational and Pravin Gordhan of working in the background against the EFF.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.

Funny Cape fashionista Nadia Jaftha making waves with her mom

Funny Cape fashionista Nadia Jaftha making waves with her mom

Fashion blogger Nadia Jaftha takes fans through her serious love of style, as well as her silly moments with sidekick mom, Nawal.