unemployment

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Canada-based tech start-up, CostCertified, has announced the opening of their new headquarters in Cape Town’s city centre. Providing a first-of-its-kind cost estimating software for the residential construction industry, CostCertified joins over 550 firms in Africa’s Silicon Valley.


In the first quarter of 2022, Statistics South Africa (StatsSA) revealed that the unemployment rate increased to 63.9% for people aged 15-24 years old. On the other hand, unemployment stood at 42.1% for the 25-34 age group, prompting government to find ways to combat youth unemployment. 

 


President Cyril Ramaphosa said the triple challenge of unemployment, poverty and inequality needs to be addressed in South Africa. And while millions remain unemployed, marginal gains in tackling unemployment were made as the unemployment rate declined.

 


The economic and social consequences brought about by unemployment could negatively impact the growth of an entire country.


In the final months of 2021, South Africa’s unemployment rate rose to 35.3%, meaning that more than one in every three people living in the country are unemployed.

 


The unemployment rate in the country worsened to 35,3% in the fourth quarter of 2021. The expanded unemployment rate, which includes people who were available for work but not looking for a job, stood at a staggering 46,2 %.


In South Africa, 46.2% of the country’s population is unemployed according to the expanded definition of unemployment which includes people who are available for work but not looking for a job.


Earlier this week, Statistics South Africa released the Quarterly Labour Force Survey for the final quarter of 2021. Whilst unemployment rose countrywide, one province has celebrated the creation of jobs. 


The unemployment rate in South Africa increased during the final months of 2022 painting a grim picture of the job losses experienced by the country's population. 


In the third quarter of 2021, the expanded unemployment rate in KwaZulu Natal (KZN) stood at 48,6%. This means that almost all of the people in KZN were unemployed.


Both employers and prospective employees feel the pain of the recruitment process.  Job searches are often tense, drawn out and exhausting.  Both sides can benefit from a quicker, more accurate and less costly match. 


Recent figures released by Statistics South Africa (StatsSA) have revealed that South Africa’s Growth Domestic Product (GDP) increased by 1,2% in the fourth quarter of 2021. 


The Unemployment Insurance Fund (UIF) provides crucial financial support to workers who have lost income due to various circumstances. 


During the State Of The Nation Address, President Cyril Ramaphosa declared that more than 850 000 opportunities were supported through the Presidential Employment Stimulus Programs. 


Evolving technology and the impacts of Covid-19 have resulted in workplaces that are changing faster than ever. To keep pace with the rapid advances in the workplace and avoid skills shortages, almost half of employees will need to be reskilled with critical skills by 2025.


The Department of Employment and Labour are currently conducting a blitz to check on compliance of businesses in the hospitality sector.


Being over-indebted can be extremely stressful. This is when you find yourself not having enough money to meet your needs whilst trying to pay off existing debt.


Statistics South Africa (StatsSA) have revealed that South Africa’s economy is still smaller than it was before the onset of the Covid-19 pandemic which was more than 20 months ago.


More than half a million jobs were lost in the third quarter of 2021 according to Statistics South Africa (Stats SA). 


The July unrest has had a devastating impact on South Africa. The eight days of unrest and looting left more than 300 people dead and cost the economy billions.

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