Jun 15, 2024

Unemployment rate keeps on increasing


Will the country ever find rest when it comes to unemployment rate? This is the very question that pops up just after the release of 4th quarter unemployment statistics Rate by quarter-4 labour survey.

The rising of the number this year, has the peak to 35.3% compared to the past years. All this means there are 2.5 million people whom are out of jobs in the whole country, there is also the other groups between the age of 14-24 which is about 10.2 million group of people in estimate is 66.5% in those group it includes the youth with no education, employment and training.

The country has gone from 7.6 to 7.9 million people in the country, who lack Jobs. The Stats SA says this has a bad effect even also on the economy of the country. Since the pandemic started there has been a loss of jobs in many bigger companies, people being retrenched, also adding to the effect that led the number of unemployment to hike up, including all those graduates who are still holding on to their qualifications and still lack Jobs.

A question will still be, will the country ever come out of the unemployment rate stigma as the pandemic is still on? 7.9 is still a big number that needs fixing .