Unemployment in South Africa a ticking timebomb
30 July 2019
The rise in the unemployment rate from 27,6% in the first quarter to 29% in the second quarter is extremely disturbing, but not a surprise.
The previous time that the unemployment rate rose to 29% was in 2008 and the highest ever unemployment rate was recorded in March 2003 at 29,3%.
Taking into account the people who have lost all hope for finding a job, there are an estimated 10 million unemployed people in South Africa, while the population has increased to 58 million people.
When it comes to unemployment, South Africa is sitting on a ticking timebomb and the country has become a welfare state with nearly 17 million people who are dependent on social grants. That is more than the number of people who actually do have jobs. This unsustainable situation was created by the ANC government.