South Africa is facing a severe jobs crisis, with an official unemployment rate of 31.4% reflecting 7.8 million people who are actively looking for work. However, when combined with those who are available to work but have given up looking for a job or have other reasons for not searching, that number increases to 12.4 million, or 42% of the working age population.
This staggering statistic has led to a national conversation on how to create quality, formal sector jobs. News24’s On The Record jobs summit aimed to tackle this issue head-on, with insights from business leaders, economists, thought leaders, and President Cyril Ramaphosa.
Expert Insights
Our specialist journalist, Carol Paton, discussed the highlights of her panel, which included interviews with SARS commissioner Edward Kieswetter and former finance minister Trevor Manuel. They shared their thoughts on the jobs crisis and a range of other issues affecting the country.
The Lead host, Graeme Raubenheimer, also caught up with President Ramaphosa for a candid interview on the Johannesburg governance crisis. The conversation shed light on the challenges facing the city and the government’s plans to address them.
Possible Solutions
So, how can South Africa add 5 million quality, formal sector jobs in the next decade? Some possible solutions include:
- Investing in education and skills development to prepare workers for the modern economy
- Encouraging entrepreneurship and small business growth
- Implementing policies to attract foreign investment and stimulate economic growth
These are just a few ideas, but it is clear that a multi-faceted approach is needed to tackle the jobs crisis. As the country continues to grapple with this issue, it is essential to have open and honest conversations about the challenges and potential solutions.
