According to a report published by The Economist’s Pocket World in Figures, South Africa has the highest youth unemployment rate of any other country in the world.
While South Africa’s dismal unemployment rate across the board has remained a cause for great concern, the statistics revealed in Pocket World put the country’s youth unemployment rate at 57.4%.
Statistics South Africa is not too far off
Statistics South Africa (Stats SA) previously reported that those aged between 15 and 34 years are considered as the youth. According to the local survey agency, 38.2% of the nation’s youth were unemployed at the beginning of 2018. This is still way off from the figure published by Pocket World.
Yet, delving deeper into Stats SA’s most recent report for 2018, one finds that the unemployment rate amongst citizens eligible in the labour market, aged between 15 and 24 years old, sits at a whopping 52.4%. While there is still a discrepancy between the two survey’s findings, the harsh reality of South Africa’s abysmal youth unemployment rate cannot be argued.
President Ramaphosa deeply concerned by youth unemployment
South Africa’s high unemployment rate is one of the greatest issues facing the nation’s already uneasy economic prospects. Recently, President Cyril Ramaphosa held a Jobs Summit which was aimed at addressing unemployment.
The summit’s main focus was to bring together government, business, labour and community organisations to advance job creation. President Ramaphosa highlighted job creation amongst the youth of the country as one the government’s top priorities.
While the national unemployment rate sits uncomfortably at 27.2%, President Ramaphosa promised greater interventions aimed at creating close to 13 million new jobs by 2030.
The Economist’s Pocket World in Figures
According to a report by The Citizen, Pocket World in Figures is an annually released book published in the United States (US). The publishers claim that the book derives data from over 190 countries and has been in print for the last 25 years.
By: The South African