BP 539: The Presidential Employment Stimulus – Denting Unemployment? by Kenny Pasensie

Statistics South Africa’s (Stats SA) latest quarterly labour-force survey, released in November,1 did not make for good reading. South Africa’s unemployment rate is now at a world record high of 34.9% – that is about 14.3 million of the working-age population. If the expanded definition of unemployment is used (this includes discouraged jobseekers) the rate stands at 46.6%. Youth unemployment (15- 24 year olds) is 66.5% in the narrow definition, and 43.8% for the 25-34 age group.BP 539 The Presidential Employment Stimulus Denting Unemployment by Kenny Pasensie