It's becoming common for political parties to use the phrase 'job creation' ahead of polls.
As South Africa prepares for the highly anticipated 2024 general election, all political parties promise an immediate solution to the country’s economic problems, particularly unemployment. It is becoming increasingly common for political parties to use the phrase “ job creation ” as a campaign slogan in order to lure millions of jobless people to vote for their parties. Thus far, these parties have not shown any tangible plan or strategy outlining how they intend to achieve job development.
At the time, the plan sought to create 3.4 million jobs over a ten year period by increasing the country’s economic growth to 3% each year. This was a divergence from the National Development Plan’s target of 5.4% economic growth. No other party has come close to making promises that are consistent with the NDP’s goals for lowering unemployment. The National Development Plan aims to lower the unemployment rate from 27% in 2011 to 14% in 2020 and 6% in 2030.
Unemployment grew from 4.6 million in 2013 to 7.9 million in 2023, a 71.7% increase in the last decade. This indicates that official unemployment increased from 2 million to 7.9 million between 1995 and 2023, marking a staggering 295% increase in unemployed people. The reality is that the unemployment crisis predates the establishment of democracy and has been compounded by a stagnating economy that has expanded at a 0.8% annual rate since 2012.
So far, I have not heard any political party put out a sensible plan to stimulate the economy and achieve targeted growth rates. So, a monumental challenge exists for whichever party eventually wins on May 29; creating millions of jobs for a despondent population is no easy task. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SABC's role in fair election coverage under spotlight - SABC News - Breaking news, special reports,“The SABC is guided by its editorial policy as well as the ICASA regulations.'
Read more »
SABC engages Sentech to resolve broadcasting spectrum challenges - SABC NewsThe SABC says it is engaging Sentech to help resolve the challenges of the broadcasting spectrum.
Read more »
COSATU raises concerns over SABC staff salary stagnation - SABC News - Breaking news, special reports,COSATU expresses deep concern over the lack of salary increases for SABC staff…
Read more »
We don't foresee situation where we are unable to pay salaries: SABC - SABC NewsSABC addresses the possibility of staff salaries being at risk as it faces liquidity.
Read more »
We don't foresee situation where we unable to pay salaries: SABC CEO - SABC NewsSABC addresses the possibility of staff salaries being at risk as it faces liquidity.
Read more »
SABC's corporate plan and strategy approved by the board: GCEO - SABC News'They very committed on delivering on the public mandate.'
Read more »