Unemployment Heightens around 26% in SA
Aug 2, 2013 237 view(s)
Since past six years South Africa is passing from critical unemployment crisis. This greatly affected the people who are expecting their bright future through employment. Not only SA, but the whole world is passing from this crisis. Global financial crisis is also highly influencing the employment status around the world. Recent data states that the local unemployment of SA has reached 25.6% in the past three months in comparison to 25.2% in the initial three months of 2013.
Currently around 4.7 million South Africans are unemployed. Low level economic growth are also putting weight on job creation. Africa’s largest economy is also melting down as it reported the growth of only 0.9% initially in 2013 which was very indecisive for the employers. Nearly about 100,000 jobs were offered in between April and June which was comparatively less to the number of employees returning to the market for work. The economy is expected to grow 2% in 2013 compared with 2.5% in 2012. Ms Marcus, reserve bank governor said that “ At such rates it would be difficult to offer new jobs in the market.”
Daniel Silke, a labour analyst blamed the African National Congress for their “policy paralysis.” He said “The current unemployment status states the inability of ANC to properly shape their policy in concern to the efforts they put on to create job.” High salary expectation in correspondence to the productivity is liable for the job loss in most of the sector. The RAND deflation which was considerate in June and July is expected to rise in August affecting many factors.
