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Report: 'South Africa now has the worst unemployment crisis in the world'

29 January 2020 2:16 PM
Tags:
Labour laws
Economic growth
joblessness
Clement Manyathela
unemployment rate
unemployement
labour market
Centre for Development and Enterprise
Ann Bernstein

Right now, 10.3 million South Africans are actively looking for a job but can’t find one, according to a new report.

The number of people who are actively looking for work without success in South Africa (more than 10.3 million) is staggering, despite incessant commitments to address the ever-deepening crisis.

The shocking statistic comes from the Centre For Development and Enterprise’s latest report, entitled “Ten million and rising: What it would take to address South Africa’s jobs bloodbath”.

South Africa's unemployment rate is the stuff of nightmares. © highwaystarz/123rf.com

Did you know?

  • Only 42% of adult South Africans work (compared to 61% for middle-income countries, on average)

  • Between 2008 and 2019, the number of people who are looking for a job but can’t find one rose from 6.5 million to 10.3 million.

  • About 1700 South Africans join the labour market every day (fewer than 500 of them find work).

  • The population of young adults (younger than 34) increase by 2.2 million between 2008 and 2019, yet the number of employed fell by 500 000

Clement Manyathela interviewed Ann Bernstein, founder of the Centre for Development and Enterprise.

… 10.3 million and rising! It’s a catastrophic situation. All the job summits, presidential summits, projects and Nedlac debates have not worked… it’s terrible!

Ann Bernstein, founder - Centre for Development and Enterprise

The current approach to jobs is not working… a totally new approach is long overdue. We have the deepest unemployment crisis in the world!

Ann Bernstein, founder - Centre for Development and Enterprise

Government has failed to address its underlying causes: slow economic growth and labour market policies that discourage employers from hiring unskilled workers… even with faster economic growth, we must make changes to the labour market…

Ann Bernstein, founder - Centre for Development and Enterprise

Listen to the interview in the audio below.




29 January 2020 2:16 PM
Tags:
Labour laws
Economic growth
joblessness
Clement Manyathela
unemployment rate
unemployement
labour market
Centre for Development and Enterprise
Ann Bernstein

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