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News

Unemployment rate | Youth, women remain in the cold

todayAugust 13, 2024 42

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The CEO of the Youth Employment Service (YES), Ravi Naidoo, says the sooner South Africa brings more youth into the economy, the sooner the country can compete and grow the economy.

Naidoo was reacting to the latest Quarterly Labour Force Survey released by Stats SA today.

The statistics show that the unemployment rate has increased by 0.6%, rising from 32.9% in the first quarter of 2024 to 33.5% in the second quarter.

The latest rate also painted a bleak picture of the levels of youth unemployment and the gender disparity in the workplace.

Statistics SA says 3.6 million (35.2%) out of 10.3 million young people aged 15 to 24 years were not in employment, education or training in Q2.

Speaking to YNews, Naidoo says the government needs to focus on creating jobs.

 

Naidoo also touched on the high number of unemployed women in the country, which increased by 93 000 to 4.1 million.

This means that women’s unemployment rate increased from 35.2% to 35.8%.

 

“This is partly because women are more likely to take on household duties, child-rearing, and other responsibilities that limit their opportunities in the labour market,” says Stats SA.

The expanded unemployment rate, which includes discouraged work seekers who have given up on searching for a job, is currently sitting at 42.6%.

‘Urgent intervention needed’

The ANC Youth League says the statistics are indication for a need for urgent interventions to address unemployment crisis.

“As young people, we are the future of this country, yet we are confronted by an economy that continues to marginalise us,” says the ANC’s youth wing.

In a statement, the ANCYL says with the high number of youth without jobs, young people cannot play a part in society and are not able to support their families.

“The lack of job opportunities undermines the dignity, aspirations, and potential of millions of young South Africans.”

Economist, Dawie Roodt, says while expected an increase, the high number is concerning.

The South African Federation of Trade Unions (Saftu) says there won’t be economic growth, job creation and poverty alleviation until the ceasing of both public and private sector investment strikes.

“This is the second consecutive decline in employment, showing that the increases in 2023 are being reversed. Fluctuating unemployment reflects the structural defects in the economy that keep the economy on a zigzag growth path, ” says the trade union’s Trevor Shaku.

The Congress of South African Trade Unions (Cosatu) is equally worried.

The federation’s Matthew Parks says the Government of National Unity (GNU) needs to work harder to stimulate the economy that can have more people in jobs.

South Africans have taken to social media to react to the statistics.

Written by: Nonhlanhla Harris

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