Jobs stats grim, but state can play big role in helping to fix things
Real unemployment is close to 45%, so there's a need to reduce the broader cost of doing business
The latest unemployment figures from Statistics SA were greeted with shock and outrage. It is a major concern that, according to the Quarterly Labour Force Survey (QLFS), 7.8-million people were officially unemployed in the second quarter of 2021.
The reality is worse. When we add people who have given up looking for work, we have almost 12-million people willing and able but not employed. Given an estimated labour force of about 27-million, this means the expanded unemployment rate is near 45%...