All eyes will be on Statistics South Africa when it announces the latest employment figures on Tuesday. This as the country’s unemployment rate hit a new high in the second quarter.
In the three months to June of this year, the unemployment rate – which is a measure of the number of people looking for work – hit a new high of 34.4%. This has been largely attributed to the effects of COVID-19 restrictions on the economy.
But Jannie Rossouw, professor of economics at Wits Business School, thinks the problem goes much deeper than that. Rossouw says he doesn’t expect the unemployment rate for the third quarter to be any better. That’s despite the National Treasury predicting a robust economic growth rate of 5.1% for all of this year.
In his first medium-term fiscal policy statement to parliament earlier this month, Finance Minister Enoch Godongwana said the government is committed to implementing the economic reforms necessary to achieve higher levels of growth and creation of the economy. ‘jobs.
He said the process to attract more private sector players into power generation is already being accelerated.
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All eyes on Statistics SA as it releases latest employment figures on Tuesday – SABC News
Source link All eyes on Statistics SA as it releases latest employment figures on Tuesday – SABC News