Analysts say for as long as the country's population growth rate continues to surpass the economic growth rate, unemployment will remain high.
Analysts say rapid economic growth is needed to address the country’s unemployment crisis. As workers around the world celebrateThe latest data by Statistics South Africa indicates that unemployment currently stands at 27.1%, however this number goes up to nearly 40% when considering the expanded definition of unemployment which includes discouraged job seekers.
Analysts say for as long as the country’s population growth rate continues to surpass the economic growth rate, unemployment will remain high. “Yes the discouraged work seeker included in the unemployment rate is pushing 40%, as I’ve said, a serious crisis and the only way to address this crisis is through more rapid economic growth. Our population growth rate is about one point six percent per annum, which means our economy must grow at one point six per annum just to keep unemployment stable.
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Source: SABC News Online - 🏆 32. / 51 Read more »
Source: SABC News Online - 🏆 32. / 51 Read more »