The rise in official unemployment rate in South Africa to 25.5% of the labour force in the third quarter of this year highlights is a great cause for concern
Although the percentage appears to be minimal it however shows that there is a growing margin of unemployed people. This is a serious indicator that the poverty situation of many people is worsening.
In its latest Quarterly Labour Force Survey, Statistics South Africa announced the total number of unemployed people stood at 4.67 million in the three months up to September – the highest total since records started in 2008 – from 4.47 million in the second quarter.
This revelation downplays promises made early by the ruling party, government and the President that more jobs will be created as part of government’s broader plan to alleviate poverty.
Congress of the People (COPE) is adamant that the 25, 5% is actually a narrow margin and that in essence around 40% of South Africans remain unemployed. The 25% seems to represent those who have been counted while many other unemployed South Africans have given up on the idea of looking for jobs.
It is our firm believe that now is the time for all parties to come to the table to discuss and come up with a concrete economic solution that will help benefit all fellow South Africans.
Such a move will not only benefit the unemployed but will become a serious morale booster in the country following recent events which have damaged the economy.
But not all is doom and gloom. COPE is confident transparency and competency should be key drivers in efforts to ensuring that achievable targets are set and obtained especially in areas of the economy where job creation is essential.