Global Unemployment figures have been severely affected by the Covid-19 pandemic with figures last seen during the 2008 global economic meltdown.
South Africa’s economy was sluggish before the outbreak and has been further paralysed as a result. The last official figures as issued by Stats South Africa outline the following:
There were approximately 10,3 million persons aged 15–24 years in Q2:2019.
The percentage of young persons aged 15–24 years who were not in employment, education or training (NEET) decreased by 0,9 of a percentage point to 32,3% (3,3 million) compared to Q1:2019.
Of the 20, 4 million young people aged 15-34 years, 40, 3% were not in employment, education or training (NEET) – a decrease of 0, 3 percentage points compared to Q1:2019.
South Africa’s Unemployment Rate is forecasted to be 35.313 % in Dec 2020 as reported by International Monetary Fund. It records a decrease from the last reported number of 28.700 % in Dec 2019. Looking ahead, South Africa’s Unemployment Rate is projected to stand at 34.111 % in Dec 2021. The data is updated yearly and is categorized in CEIC under World Trend Plus’s Country Forecast – Table IMF.WEO: Unemployment Rate.
What is South Africa's Forecast: Unemployment Rate in 2021?
According to CEIC Data
The down of the digital revolution and technology advancement era became a reality as a result of the pandemic. This will deepen the current digital divide in the country and more people will not be able to actively participate in the economy as result of the latest developments.
The digital revolution has now highlighted the need for digital technical skills to be advanced and further developed in response transformation. It will have systemic implications due to cost of data, infrastructure and hardware for most communities and institutions in the country.
Fourth Industrial Revolution is also gradually becoming more prominent on most agendas and investments decisions. Crucial to how it will be rolled out is its ability to ensure a large percentage of the population are included in the plans, capacity and implementation of all 4IR related initiatives. Inclusion will ensure that more citizens be part of the revolution and leverage the possibilities and opportunities associated.