1 December 2021
Yesterday, Statistics SA released unemployment data for July to September 2021. The results are devastating and tragic. But not unexpected. And not inevitable.
660 000 jobs lost. South Africa’s narrow unemployment rate has hit a record high of 34.9%.
But the broad unemployment rate, which includes those who have given up looking for a job, more accurately depicts the real situation on the ground. It is at a high of 46.6% amongst all ages (15-64) and 77.4% amongst young people (15-24). These numbers show the real level of hopelessness, desperation, suffering, disempowerment, deprivation. The real level to which lives and dreams are being ruined.
Devastating and tragic, yes. Surprising, no. Because our current set of policies – the rules by which our economy is forced to operate – code failure into our economic system.