Although growth is unsuitable to create the jobs needed in South Africa, if we look at the number of industries in the chimneys, IWOSS has a number of characteristics in common with manufacturing and has the potential to address the high levels of inequality and unemployment in the countries.
Our current work paper assessing the employment potential of IWS in the tourism and horticulture sectors, agricultural processing, transit, trade and logistics and quantitative analysis of business surveys concludes that IWOSs in tourism and horticulture play a role in creating the number and type of jobs needed to combat youth unemployment in the country.
Overall, our findings suggest that the sector can play a role in creating the number and type of jobs needed to combat youth unemployment across South Africa. Show Source Texts
According to a report by McKinsey & Company, small and medium-sized enterprises (SMEs) in South Africa will account for 50-60% of the workforce in 2019, the second biggest economy in Sub-Saharan Africa, and for a quarter of private-sector employment growth in 2019.
In South Africa, SGBs contribute to the economy by increasing employment opportunities for many people who are not employed by large companies. The IWOSS sector has the potential to absorb low and medium-skilled workers, an important facet in a country like South Africa, where a large proportion of the unemployed are low-skilled. Show Source Texts
Together with the economic crisis and lack of enough jobs in many countries, it has led to one of the highest unemployment rates in the world and a crisis in development skills. It is well known that the South African economy needs to increase to a level of 6% to meet its challenges of poverty, high unemployment and inequality.
A growing body of empirical literature has estimated in South Africa the correlations between depression and depressive symptoms (15, 23, 33, 34, 34 and 40) due to South Africa's high unemployment rate, and the paper has examined how job loss and lack of employment can influence the susceptibility of an adult to depression. Show Source Texts
Addis Ababa (ILO News) - With rising unemployment and precarious employment worldwide, work in Africa is facing enormous challenges in terms of job creation and sustainability, warns a new ILO news report. Unemployment appears to be on the decline in North Africa, but labour market hardship is still pervasive among women and young people. North Africa had the highest unemployment rate of 12.1 percent in 2015. This is a new improvement from 12.5% a year earlier and marks the first decline since 2011. Meanwhile, the growth remains low and not inclusive enough to have a significant impact on the youth unemployment. The report also concludes that South Africa has entered the COVID 19 pandemic with the lowest employment levels in decades and the weakest job creation standards in most upper and middle income countries. While South Africa has had high unemployment rates since transition to democracy [21, 22], few studies have examined the effects of this on depression and anxiety in the population . Show Source Texts
North Africa has the highest regional youth unemployment in the world at 30 % in 2015 and there is little indication that it will decrease in the near future. Moreover, a large proportion of young people find they are not in school or training (NEETs). South Africa's population is young and more people are entering the working age compared to the number of jobs available on the labour market. This means that companies can no longer afford to hire more people, which reduces the workforce and contributes to the country's unemployment rates. Show Source Texts
South Africa's unemployment rate is the highest since 2008, when the National Bureau of Statistics began measuring unemployment using the quarterly Labor Force Survey. Currently, South Africa's unemployment rate means 30.1% of the workforce, or 2.3 million people, have been out of work since COVID-19. When discouraged job seekers are taken into account, the unemployment rate is nearly 40%, equivalent to 9.6 million people. Show Source Texts
A 2019 survey of African youth found that South Africans are the least entrepreneurial in the countries surveyed (Ethiopia, Gabon, Ghana, Kenya, Malawi, Nigeria, Rwanda, South Africa, Zambia and Republic of Congo), with only 47% of them planning to start a business in the next five years. While South Africa is catching up with the self-employment rate of other high-to-middle-income economies, a World Bank report added that South Africa is lagging behind in unemployment. Show Source Texts
South Africa's unemployment rate hit a record high of 30.8 percent in the third quarter - a big jump from the previous quarter - as the figures were distorted by lockdown restrictions that prevented people from looking for jobs, said the statistics agency on Thursday. The thirteenth edition of South Africa: An Economic Update centered around COVID-19 with a special emphasis on jobs explores how the country can tackle unemployment and its other pressing social challenges in an environment of slowing economic growth by supporting young entrepreneurs. Kenya, one of the fastest growing economies in Sub-Saharan Africa with a GDP growth average of 5.7% in 2019 has one of the highest youth unemployment rates in East Africa, and data from the latest census indicates worsening unemployment among young people aged 18-34. Show Source Texts
South Africa's President Cyril Ramaphosa made impassioned promises to repair the country's ailing economy at a time when there is no official statement from his party, the ruling African National Congress (ANC ). The worst protests in South Africa in recent months were triggered by the arrest of former President Jacob Zuma, but there are fundamental problems such as widespread unemployment, inequality and low income levels. For example, a significant proportion of adults who said they were employed before the shutdown - 17 percent in April - said they had not worked for hours or received any pay when their jobs returned. Show Source Texts
Show All Source Texts - Hide All Source Texts
Content created and supplied by: Topdailygossip (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More