South Africa’s unemployment crisis is the deepest in the world. Over the past decade almost 900 people have joined the ranks of the unemployed every single day. Matters are even worse for young people where the unemployment rate is 50%. There are 400, 000 fewer people in employment in 2018 than there were in 2008, despite the number of young people having increased by 2 million in that period.
SA’s mass unemployment is the key cause of poverty and inequality contributing immeasurably to social dysfunction and political instability. It is a terrible waste of human potential and an assault on human dignity.
And yet there is nothing inevitable about SA’s scandalously high unemployment rate.
This is the backdrop to the Presidential Jobs Summit taking place on 4 and 5 October 2018.
In this short note CDE spells out the facts, the trends and the policies that must change if SA is ever to turn the dial on our growing unemployment figures. In our view, unless critical policies are revisited and soon, yet another generation will grow up in a world of mass unemployment and hopelessness.
Read the op-ed : The Jobs Summit and the challenge of mass unemployment
Read Press Release: Jobs crisis needs new approach