Soaring unemployment under Ramaphosa's ANC government condemned
15 May 2024
The MK Party vehemently condemns the catastrophic economic mismanagement by President Ramaphosa and his ANC government, which has precipitated a devastating rise in unemployment rates across South Africa. The country now grapples with an unprecedented crisis that has particularly shattered the lives of its youth.
Recent statistics from Statistics South Africa reveal a dire scenario: the number of unemployed persons has alarmingly increased by 330,000, soaring to an all-time high of 8.2 million. This represents the highest unemployment figure since records began in 2008, escalating from 7.9 million in the previous quarter. Such stark numbers are a testament to the failure of the Ramaphosa-led ANC to address and rectify the fundamental issues crippling our economy.
More distressingly, the youth unemployment rate has surged to 45.5%, which effectively amounts to 55.5% when considering non-job seekers. This alarming rise indicates a grim reality for approximately 4.9 million young South Africans who are jobless, hopeless, and devoid of prospects under the current regime. This situation is exacerbated by an increase in the number of unemployed graduates to 1 1.8%, highlighting a gross underutilization of potential that could otherwise propel national progress.
Under President Ramaphosa's governance, the plight of black communities has worsened, correlating directly with these soaring unemployment rates. The government's short-term employment strategies, which ostensibly favor established interests, have proven grossly inadequate, failing to address the widespread economic despair that now burdens our populace. This has been compounded by escalating crime rates, sluggish economic growth, and pervasive inequality, all of which intensify the unemployment crisis.
As the May Elections approach, the MK Party pledges to radically transform this dire situation. Our commitment upon assuming power is to rejuvenate job creation and fundamentally overhaul the economy. Our comprehensive plan, among others, includes:
Allocating land to disenfranchised black farmers to foster productive agricultural activities.
Nationalizing key industries to ensure they benefit all South Africans equitably.
Establishing a state bank dedicated to developmental financing, especially supporting youth-led and small to medium enterprises.
Reforming State-Owned Enterprises to ensure they operate as effective and efficient entities that enhance public welfare and economic stability, thereby boosting employment.
These commitments are not just mere promises but actionable items that the MK Party is prepared to implement. It is time to abandon the ineffective policies and governance of Ramaphosa's ANC, which have only driven South Africa deeper into economic turmoil and national despair. The forthcoming elections are not merely a political contest but represent a decisive moment for the future of our nation and the well-being of our people. Join us in ushering in a new era of hope and prosperity by voting MK Party.
Issued by Nhlamulo Ndhlela, Media and Communications, MK Party, 15 May 2024
