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Unemployment up to 27.2% this quarter

31 July 2018 5:46 PM
Tags:
Unemployment
rate

Founder at Centre for Economic Development and Transformation Duma Gqubule says the unemployment rate is a disaster.

The rate of unemployment in South Africa has risen by point-5 per cent this quarter.

It might not sound like much, but at 27.2% it translates to 100 000 jobs lost in three months.

READ:Stats SA: Over 6 million people are jobless in South Africa

Speaking to Joanne Joseph, Founder of the Centre for Economic Development and Transformation Duma Gqubule says the losses are part of a trend that has been going on for the past nine years.

What is happening with unemployment is a complete disaster. I have been predicting for quite some time now that if we continue on the current path, we will soon get 10 million people unemployed.

Duma Gqubule, Founder of the Centre for Economic Development and Transformation

Gqubule says we have had a lost decade in terms of economic growth.

Our economy hasn't done anything between 2009 and 2017. The GDP has grown by 0.3 % per year and our GDP per capita has been declining for three whole years.

Duma Gqubule, Founder of the Centre for Economic Development and Transformation

Listen further to the full interview...


31 July 2018 5:46 PM
Tags:
Unemployment
rate

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