File image: Job seekers stand in a line hoping to be picked for employment.
Analysts say among the multiple challenges facing the country, the current electricity crisis stands out as a major deterrent for the kind of investments that can create jobs. “South Africa is structurally characterised by a high unemployment rate, now this in conjunction with rising interest rates and ongoing elevated inflation is a recipe for ongoing social unrest, so while there may have been some recovery in Q3 following the effects of the destructive floods in Q2 we’re still looking at a high unemployment rate and we have seemingly permanent load shedding which is weighing on confidence amid a slowdown in domestic and global growth.
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