Political parties react to uptick in unemployment
The latest Quarterly Labour Force Survey results show an increase in unemployment from 31,9% in the third quarter of 2023 to 32,1% in the fourth quarter.
This translates to more than 7.9 million South Africans who are without a job.
Political parties have crafted their campaign messaging around the promise of job creation amid high unemployment, especially among young people.
Youth unemployment increased by 0,9 of a percentage point from 43,4% in Q3 of 2023 to 44,3% in Q4.
Following the State of the Province Address by Gauteng Premier Panyaza Lesufi, the Democratic Alliance’s Shadow MEC for Economic Development in the province Patrick Atkinson said the government’s failure to curb corruption, the devastating effects of load shedding, and crime dampens any efforts create a conducive environment for investment and job creation.
Atkinson said Lesufi’s interventions, such as the Nasi Spani employment drive, are not working.
“The Gauteng Department of Economic Development has constantly failed to meet its job creation targets, which also has a negative impact on the unemployment rate.
“Load shedding has worsened the situation and is impacting negatively on the job opportunities that can be created by small businesses, particularly those operating in the townships. Many of our businesses cannot operate during load shedding, and when there are higher stages of load shedding, many cannot operate for a full day.”
Gauteng’s unemployment rate increased by 0,1 of a percentage point in the last quarter.
READ MORE: Crime Prevention Wardens to be increased to 12 000 - Lesufi
Meanwhile, Action SA’s Herman Mashaba’s described the latest employment figures as disastrous.
“South Africa’s current unemployment and fiscal crisis is a manmade disaster by the ruling party after years of mismanagement and corruption," said Mashaba.
Key industries are looking to Finance Minister Enoch Godongwana, when he delivers his Budget Speech on Wednesday, for government’s interventions to promote economic growth.
Mining was among the industries that contributed to employment with 37,000 jobs in quarter four.
However, these figures come as one of the country's top platinum producers, Anglo American Platinum mulls shedding nearly 4,000 jobs in the face of falling platinum group metal prices.
“Regardless of what Finance Minister Enoch Godongwana therefore presents in his budget speech on Wednesday, unless drastic action is taken, South Africa will never be able to get out of its low economic growth environment," Mashaba added.
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