President Ramaphosa, reverse SA’s record high unemployment rate; veto the EEB
30 March 2022
South Africans face the bad news of a record high unemployment rate and must know that things could get even worse.
If the Employment Equity Amendment Bill (EEB) becomes law it will push the country’s unemployment rate on the expanded definition through the 50% mark by disqualifying businesses on the basis of race from selling more value for less.
According to Stats SA’s latest survey, the unemployment rate has increased to a new record high of 35.3% on the narrow definition while remaining above 46% on the expanded definition. This dire consequence emanates from ideas and policies that government chose to implement.
Dr Anthea Jeffery, Head of Policy Research at the IRR, has highlighted “the ten-year lockdown” of the economy, referring to government policies that frustrated work-seekers either directly or indirectly and put the country in a position where it could not handle the Covid-19 pandemic dislocations, which were exacerbated by maladministration.