unemployment in south africa

Continues for 7 more pages »
Read full document

unemployment in south africa

By | October 2013
Page 1 of 8

INTRODUCTION
Since the political transition in 1994, South Africa has witnessed the acceleration of its already high unemployment rate. South Africa currently has one of the highest unemployment rates internationally. This is the culmination of a long-term, yet steady, rise in unemployment that started as early as the 1970s (Seeking and Natrass 2006), but which has rapidly accelerated in the post-apartheid period. South Africa as a developing country has faced a crisis of the high rate of unemployment in recent years. In the South African labour market, unemployment has remained a crucial social and economic issue. The inheritance of the apartheid socio-politic ant and socio-economic history in the South African labour market has created some structural imbalances that have resulted in alarming and remorseless high rate of unemployment in the labour market .Sixteen years after the apartheid era, social policy programs to address the problems of socio-economic and socio-political have done nothing to alleviate unemployment in the South African labour market. In the period of 2008 and2009 there were also external forces such as world economy recession that influenced the instability in the labour market and also placed South Africa in an unviable position. South Africa has one of the highest unemployment rates in the world , currently standing at 25,2% based on figures released by Stat SA (2012).Unemployment is a real matter of concern , as it can yield devastating effects on economic welfare ,crime ,erosion of human capital, social exclusion ,misery and social instability ,(Kingdom and Knights , 2007). In 2011, President Jacob Zuma declared the year as the South Africa’s year of job creation in his State of the Nation address in Parliament and announced several initiatives to boost job creation including a R9-billion jobs fund, unemployment still appears to be one of the biggest social challenging areas in the country. ) High unemployment over the last decade...

Rate this document

What do you think about the quality of this document?

Share this document

Let your classmates know about this document and more at Studymode.com