Facing up to world’s biggest unemployment crisis

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Facing up to world’s biggest unemployment crisis

The world’s biggest unemployment crisis is right here in SA. The Times reports that this is according to economist Mike Schussler, who, delivering the Uasa trade union’s 17th South African Employment Report‚ said the number of unemployed had increased from 6m to 9.6m between 2001 and 2018. This was a 60% increase in the broader rate of unemployment‚ which had had a devastating effect on inequality and poverty in the country‚ said Schussler. ‘South Africa is one of the few countries in the world where there are more adults not at work than adults at work… The magnitude of the crisis is the single biggest crisis facing South Africa. SA is the only country that our research finds has had a 20% plus unemployment rate for over two decades‚’ Schussler said. Apart from the number of unemployed‚ he noted that 6.1m South Africans were physically looking for work‚ stating this was according to the official definition which in 2017 made SA the country with the highest unemployment rate in the world. Working-age South Africans are six times more likely to be unemployed than the average adult worldwide‚ he said.

Full report in The Times


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