The Centre for Economic Development says government needs to change economic policies to be able to fight the high rate of unemployment in the country.
Statistics South Africa’s figures show that the overall unemployment increased to 34.4% in the second quarter from 32.6 in the first.
Statistics also show that young people remain vulnerable to labour markets amid yet another increase in the unemployment rate.
The Quarterly Labour Force Survey indicates that unemployment among young people between the ages of 15 to 24 is now at 64.4 %.
The Centre’s director Duma Gqubule says South Africa’s economy is at a low point.
“This is a serious crisis. We have never had anything like this post-apartheid history. I don’t know what would make government change their mind. The policies have failed repeatedly. They keep ducking down with these policies they have failed.”
Unemployment increased to 34.4% in the second quarter of this year: Stats SA
Unemployment is at its highest since Statistics South Africa started tracking the figure in 2008.
Statistician-General Risenga Maluleke announced the latest quarterly stats in Pretoria.
The survey showed that the number of employed persons decreased by 54 000 in the second to 14.9 million.
It further indicates that the number of unemployed persons increased by 584 000.
Maluleke says, “The unemployment rate for the 2nd quarter for 2021 – the number of those who were employed in the 1st quarter of 2021 has declined in the 2nd quarter by 54 000 people. The number of unemployed increased by 584 000 people from 7.2 million people to 7.8 million people. The unemployment rate of SA in the 2nd quarter of 2021 is 34.4% – this is the highest we have seen since 2008.”
Economist and employment analyst Andrew Levy says, “That is an increase of 2.4% and that is a huge number and obviously we can put this to the post-COVID situation and the ongoing retrenchments that are being seen right across the economy, obviously also reflecting the very negative economic outlook we are facing. So all in all a serious wake-up call to everyone, government, the departments dealing with labour.”
