The unemployment rate in South Africa has exponentially increased at an alarming rate to 62.1% in six months of 2023.
Unemployment worldwide is a situation that needs to be looked at by the government as it denies young individuals the opportunity to participate meaningfully in the labor market, leading to increased poverty, health challenges, crime, social instability, and political unrest.
South Africa’s high rate of unemployment remains the highest in the world and continues to pose a significant negative impact on its economy by hindering the potential for sustainable growth and development.
Statistics by Quarterly Labor Force Survey (QLFS) showed there were 179 000 more people who were unemployed in the first quarter of this year compared to the previous
quarter, putting the total number of unemployed workforce at 7.933 million.
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A statement by Economist Dawie Roodt, says the problem is not Economic but rather political.
‘’What we have in South Africa is a political problem because we have a government that is standing in the way of progress. There are many reasons for high unemployment rates such as weak skill sets and more. But, the only crucial reason for high unemployment is because the economy is not growing,’’ he said.
