Youth unemployment will continue to increase towards 2030, unless something is done to change the tide.
SA Medical Association Trade Union, Democratic Nursing Organisation of SA and Young Nurses Indaba Trade Union in a protest against the unemployment of doctors.South Africa has seen a slight reduction in the official unemployment rate in the first half of 2023 after employment increased by 784 000 jobs or 5% year-on-year in the second quarter. However, most of these jobs did not go to young people who were the group's worst affected by the country’s unemployment crisis.
With the current levels of economic growth that’ve been forecast for 2023, PWC expects only about 169 000 of this group to realise jobs this year.This will be more than the 151 000 young people expected to enter the labour force. This, in turn, will result in the youth unemployment rate declining from 46.3% in 2022 to 45.4% by the close of this year.
“For millions of young people in South Africa, these skills are hard to come by as countless communities lack access to crucial opportunities, which makes preparing for the world of work an almost impossible task. PWC Africa is not far off in its predictions. It anticipates Africa’s most advanced economy will grow by an average of 1.2% between 2024-2030.
“As a society, we need to find the lost demographic dividend and the benefit that increasing jobs among the youth could have on social stability, household income and the economy as a whole. The scale and speed needed to address this requires a radical approach that is focused on empowering a massive number of new entrepreneurs at a community level.“Entrepreneurialism needs to permeate through all our townships and cities. However, winning this entrepreneurship challenge will require a coordinated effort across society to build momentum, fully develop and hyper-scale this ecosystem towards creating massive amounts of jobs,” said the report.
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