S. Africa’s unemployment rate for Q1 was 27.7%
S. Africa’s unemployment rate for Q1 was 27.7%

Youth Severely Affected by South Africa’s Poor Growth

Youth Severely Affected by South Africa’s Poor Growth

The unemployment rate of 53% among South Africans between the ages of 15 and 24 shows that young people are the worst hit by poor economic growth, the Organization for Economic Cooperation and Development report says. The OECD released its latest report on South Africa this week.
According to statistics from the International Labor Organization, youth unemployment around the world was at 13.55% last year, compared to 52.3% in South Africa, News24 reported.
Among young men in the country, the figure is 48.3% and is 57.3% among young women.
South Africa’s general unemployment rate for the first quarter of the year was 27.7%–the highest it has been in 14 years, according to Stats South Africa.
Stats SA said that, for the group aged between 15 and 34, the unemployment rate was 38.6%.
In its report on South Africa, the OECD recommends that apprenticeship and internship programs be developed to advance job creation among young people.
In 2013, only 12% of South Africans who were studying after school completion were enrolled for vocational training.
Advocate Kobus Engelbrecht, a spokesperson for the Entrepreneur of the Year competition, sponsored by Sanlam and Business Partners, said it was becoming increasingly important for entrepreneurship and the associated skills to become part of young people’s education.
He said this training should begin at primary school level and incorporate activities such as market days and entrepreneur days. He added that the teaching of economics and business studies at high schools needed to be expanded.



Short URL : https://goo.gl/ooqtur
  1. https://goo.gl/EqfpDk
  • https://goo.gl/MQzKWY
  • https://goo.gl/K5nTMU
  • https://goo.gl/5xBKcG
  • https://goo.gl/Ttbpyy

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...

Add new comment

Read our comment policy before posting your viewpoints