South Africa facing an economic crisis
27 May 2015
The latest economic indicators released yesterday by StatsSA show that South Africa is facing an economic crisis. Unemployment is rising and economic growth is dangerously slow.
I have this morning tabled a request for a debate on a matter of public importance (as per rule 103 of the National Assembly) to urgently discuss how we can defuse the ticking time-bomb of continued inequality and unemployment.
The figures released show that since President Jacob Zuma came to office, unemployment has skyrocketed from 31.7% in 2009, to 36.1% in 2015. This means that 2 million more South Africans are without work today than 6 years ago.
More troubling is that 65.5% of those without jobs are young people.