South Africa, as well as its Southern African Customs Union (SACU) member countries Botswana‚ Lesotho‚ Namibia and Swaziland, are on the list of the world's top 20 countries with high unemployment rates.
The unemployment rates are apparently higher than war-torn counties, according to SA Unemployment Report.
Economist Mike Schussler‚ presented the 16th UASA South African Employment Report in Johannesburg on Tuesday.
Schussler says while this is no surprise, it is cause for concern.
The fact of the matter is we have only 4 out of 10 adults working.— Mike Schussler, Chief Economist at Economists.co.za
I think we have to understand who the people are that are unemployed, very often they are in rural areas, youth, African women.— Mike Schussler, Chief Economist at Economists.co.za
We should not be trying to save the SAA, we should rather be spending our money in trying to build firms that are in rural areas, whether it is in agricultural processing, wood processing. Those are the sort of areas that we should be putting our effort in.— Mike Schussler, Chief Economist at Economists.co.za
We also need to understand that the minimum wage in the formal sector is not going to change the inequalities in South Africa because the inequalities stem from the expanded unemployment that we have.— Mike Schussler, Chief Economist at Economists.co.za
Click on the link below to listen to Schussler's comments on the level of wages in the country....