SA's official unemployment rate is five times higher than the world rate, with more people out of work than during the great depression
The latest unemployment figures show SA is in deep trouble that will probably take the best part of the century to fix, economist Mike Schüssler, says after the latest Quarterly Labour Force Survey issued by Statistics SA indicated that unemployment now stands at 34,4%, the highest since the start of the survey in 2008. “South Africa’s official unemployment rate is now five times higher than the world rate.
According to the survey, for the second quarter of 2021, the number of employed people decreased by 54 000 during this time to 14,9 million. The number of unemployed people increased by 584 000 to 7,8 million compared to the first quarter of 2021. “We can double formal sector jobs and we will still have the average unemployment rate of 6,4% this year, higher than the world average of 6,3% which is considered higher than usual.”
“Government must stop regulating everything and replace BEE with BEST, which stands for Black Economic Skills Transfer.”Surprising and concerning “As a result of the poor start to the third quarter, the unemployment rate could increase even further. We foresee the job market recovery period to be a lengthy one.”
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.
Stats SA: Unemployment rate now 34,4%, with 14,9 million joblessUnrest, unfortunately, impacts both the employment rate and future investments in the economy.
Read more »
SA unemployment rate hits new record high in second quarterSA’s unemployment rate hit a new record high of 34.4% in the second quarter of 2021 from 32.6% in the first quarter, the statistics agency said on Tuesday.
Read more »
SA unemployment rate hits new record high in second quarterSA’s unemployment rate hit a new record high of 34.4% in the second quarter of 2021 from 32.6% in the first quarter.
Read more »
Coalitions are the future of SA politics, says Ekurhuleni mayorMzwandile Masina says coalition with the EFF now possible as the party ‘understands ANC’s policies’
Read more »
Woolworths SA boss ‘demoted’ to focus on her food unit successZyda Rylands was due to step down at end-September, but has agreed to stay on until 2024
Read more »
‘What Zakes did cannot be undone’ — SA applauds Zakes Bantwini’s ‘Osama’ hit song'This 'Osama' song by Zakes Bantwini is going to make people cry real tears. It's powerful,' said one tweep.
Read more »