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SA in need of rapid economic growth to eradicate unemployment: Wits Business School

Statistics South Africa will release its second-quarter labour force survey on Tuesday. The data will reflect South Africa’s job numbers and the unemployment rate. The…

SABC NEWS

Statistics South Africa will release its second-quarter labor force survey on Tuesday. The data will reflect South Africa’s job numbers and the unemployment rate. The country’s unemployment rate in the first quarter of 2021 stood at a massive 32.6%, the highest unemployment rate recorded since the start of such measurements in 2008.

Analysts say the recent unrest is likely to be reflected in the report.

Head of Wits Business School, Professor Jannie Rossouw says South Africa will continue to have an unemployment problem.

“South Africa has and will continue to have an unemployment problem. Our population growth rate is about 1.5% per annum, so whenever our economy grows at less than 1.5%, we will have an increase in unemployment. So we need rapid economic growth for a sustainable time to eradicate the existing unemployment and ensure future employment growth,” says Rossouw.

Stats SA to release second-quarter labor force survey on Tuesday

 

 

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