According to the World Economic Forum's (WEF) Global Risk Report, youth unemployment in South Africa stands at a staggering 70 percent.
The report states that South Africa has the third-highest unemployment rate in the world for people between the ages of 15 and 24.
It says graduates and matriculants are struggling to find jobs due to stiff competition in the job market, adding that most of the young people today want everything now and it is that microwave generation.
To read the article titled, “Not enough jobs for the youth,” click here.Source:SABC News
Small Business Development Minister, Lindiwe Zulu, has warned that people will rise up if there is no change in the levels of inequality, unemployment and poverty in South Africa.
Speaking at the South African Chamber of Commerce and Industry conference in Johannesburg, Zulu pointed out that, "When the people that have been struggling for many, many years find that the gap between the poor and the rich keeps on expanding, one day they will get up and say enough is enough…”
She is of the view that if that happens, the government that will go out with guns blazing to shoot them, adding that, “Marikana was a very good example for us, we are not going to make that happen again."
To read the article titled, “No change in inequality, poverty, unemployment will lead to people rising up: Lindiwe Zulu,” click here.Source:Times Live
Zimbabwe’s opposition Movement for Democratic Change has recently described Zimbabwe’s unemployment rate of 85 percent as a ticking time bomb.
In its 2013 election manifesto, President Robert Mugabe’s ZANU-PF party claimed unemployment levels stood at 60 percent.
The secretary-general of the Zimbabwe Congress of Trade Union, Japhet Moyo, told a newspaper late in 2012 that the unemployment rate was between 80 and 90 percent while the country’s National Association of Non-Governmental Organisations suggested that overall unemployment in 2011 stood at 95 percent.
To read the article titled, “Is Zimbabwe’s unemployment rate four percent, 60 percent or 95 percent?” click here.Source:SABC News
At the 23rd African Union (AU) Summit, the chairperson of the AU, Dr Nkosazana Dlamini-Zuma, encouraged the New Partnership for Africa’s Development (NEPAD) Heads of State and Government Orientation Committee (HSGOC) to modernise farming as a means of attracting young women and men into the agricultural sector.
Since its evolution from Organisation for African Unity to AU in 2000, the organisation has been battling with the impact of global financial crises threatening its vision of integrated, prosperous and peaceful Africa.
Agriculture remains a major source of food security and economic growth in Africa, according to African Economic Outlook 2014, which describes the sector is the main exports trade commodity in Africa valued at US$57 billion.
To read the article titled, “Modernising agriculture to address youth unemployment in Africa,” click here.Source:SABC News
South Africans want President Jacob Zuma to focus on job creation in his State of the Nation Address.
According to a survey conducted by Ipsos, 90 percent of respondents believe unemployment is serious and need to be dealt with urgently.
Sixty-one percent of the people questioned felt the government is not doing well in reducing unemployment by creating jobs, while 61 percent of the people feel the government is not doing well in reducing unemployment by creating jobs.
To read the article titled, “Zuma must focus on jobs: survey,” click here.Source:Times Live
The International Labour Organisation (ILO) says a weak recovery from the 2008 global economic downturn has curtailed job growth around the world.
The Geneva-based agency says that nearly 202 million workers were unemployed in 2013, up five million from the year before.
It further says youth unemployment is a particular problem, with more than 74 million people aged 15 to 24 out of work in 2013, adding that the youth employment rate is more than 13 percent, more than twice the overall global jobless rate.
To read the article titled, “ILO - weak global recovery has curtailed job growth,” click here.Source:All Africa
According to the World Economic Forum (WEF) Global Risk 2014 report, South Africa has the third highest unemployment rate in the world for people between the ages of 15 to 24.
The report, which estimates that more than 50 percent of young South Africans between 15 and 24 are unemployed, found that only Greece and Spain have higher unemployment in this age range than South Africa.
"At the same time the rising cost of higher education has left a generation with unpayable debt and little chance of finding a job," it states.
To read the article titled, “SA youth unemployment 3rd highest in world,” click here.Source:Fin 24
Finance Minister, Pravin Gordhan, says even though the government is trying everything in its power to create jobs, it is impossible for government to employ everyone.
Speaking at the Forum, the minister urged all South African citizens to work together in improving the state of the country’s economy, he further encouraged people to start their own businesses.
He denies any suggestions that his tough measures against ministers’ wasteful expenditure has got anything to do with the upcoming 2014 national elections.
To read article titled, “Gordhan encourages entrepreneurship,” click here.Source:SABC News
Youth unemployment, entrepreneurship and HIV/AIDs dominated discussions at the One Young World conference which took place from the 2-5 October 2013 in Sandton, Johannesburg.
Barclays Bank chief executive officer Anthony Jenkins, says the world faces a lot of challenges and that businesses and politicians should come up with best practices to help society. Jenkins added … “the youth will have to be brave and tackle unemployment, but responsibility cannot only be left to them.”
Youth unemployment is currently growing by 4-million every year. This does not only affect illiterate people, but university graduates who also find it difficult to get jobs.
To read the article title “One Young World Summit puts unemployment under spotlight,” click here.Source:SABC News
The unemployed seldom know why they are unemployed. They are unlikely to realise that they would be employed if labour law barriers were removed or relaxed.
They can, on the other hand, from harsh personal experience, relate more directly to policies that protect those fortunate enough to have jobs from a similar fate. The unemployed masses are unlikely to realise, without it being explained by honest and informed political leaders, that improving pay and conditions of employment for people with jobs comes at the expense of people without jobs. It also comes at the expense of consumers, especially the poor (for whom prices are driven upwards), and at the expense of society at large (for whom prosperity is curtailed). In the context of nebulous and reckless calls for ‘nationalisation’, the unemployed are especially vulnerable. No one ever explains by what process or mechanism changing ownership from people who created real jobs (investors), to ones who did not (bureaucrats), should benefit anyone other than a handful of new undeserving super-elites.
This analysis has focused primarily on flexibility of demand, that is, the degree to which the cost of employing people affects the propensity to employ. On the other side is flexibility of supply, the propensity to work in response to wages and working conditions.
When there is full or near-full employment, job-seekers have a seller’s market and there is little need to be concerned about ‘exploitation’ because workers can pick and choose without the risk of unemployment. Employers have to compete for labour, which drives wages and working conditions upwards.
Under conditions of widespread destitution, such as we have in South Africa, supply is substantial, flexibility of supply is low, and workers have less ‘bargaining power’. They have to accept almost any employment they can get, which means that they are more likely to be ‘exploited’ (‘starvation wages’ and harsh working conditions). This increases the likelihood of labour laws to protect workers, but decreases the likelihood of barriers to employment being removed for the unemployed.
- Leon Louw is the Executive Director of the Free Market Foundation. This article first appeared on the Free Market Foundation (FMF) website. It is republished here with the permission of FMF.