The Limited Times

Now you can see non-English news...

South Africa: Unemployment rate exceeds 35 percent mark

2022-03-29T16:35:18.696Z


Even before the pandemic, South African society was suffering from high unemployment. The situation on the job market has deteriorated drastically as a result of the corona rules – there have already been violent protests.


Enlarge image

Demonstration by academics against unemployment in South Africa 2020

Photo: Phill Magakoe/AFP

In South Africa, since the quarterly survey began in 2008, so many people have never been registered as unemployed.

The unemployment rate in the country has peaked at 35.3 percent against the background of long-lasting corona restrictions.

The rate climbed to this value in the fourth quarter of last year, as the national statistics office has now announced.

This means that 7.9 million people are registered as unemployed in Africa's second largest economy - compared to the previous three months by 278,000.

Too much focus on commodities

The number of people who have given up looking for a job is not recorded.

If they are included, the rate is even 46.2 percent.

Their share was even slightly higher in the third quarter of 2021 at 46.6 percent.

There is enormous social inequality in many places in South Africa.

The effects of the corona restrictions on the economy are devastating, especially since the economy was already in recession before the virus crisis.

South Africa has been struggling with structural economic problems and an unreliable power supply for years.

The strong focus on the raw materials sector is also problematic.

The pandemic and the corresponding rules have exacerbated the situation significantly in the past year.

The poor economic situation broke out in the summer of 2021 in the form of violent protests and riots.

Motorways were blocked, shops, offices and warehouses were looted, shopping malls were burned down.

Hundreds of people were killed and many more were arrested.

The protests were triggered by the arrest of former President Jacob Zuma, who had refused to testify in a corruption trial.

Zuma was president from 2009 to 2018, and he was already confronted with the first allegations of corruption during his tenure.

Specifically, he is accused of money laundering and fraud in connection with a multi-billion dollar arms deal, Zuma rejects the allegations.

apr/dpa

Source: spiegel

All business articles on 2022-03-29

You may like

News/Politics 2024-02-29T11:54:14.271Z
News/Politics 2024-03-28T10:04:50.982Z
News/Politics 2024-02-29T09:23:43.352Z
News/Politics 2024-02-29T10:15:31.108Z
News/Politics 2024-03-28T14:45:18.495Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.