SA youth unemployment 3rd highest in world
Fin24

SA youth unemployment 3rd highest in world

2014-01-20 11:42

Cape Town - South Africa has the third highest unemployment rate in the world for people between the ages of 15 to 24, according to the World Economic Forum (WEF) Global Risk 2014 report.

The report estimates that more than 50% of young South Africans between 15 and 24 are unemployed.

Only Greece and Spain have higher unemployment in this age range than SA, the report states.

The other two countries in the top 5 of most unemployed youth are Portugal and Italy. Both have youth unemployment of more than 30%, but less than 40%.

The report calls the more than 73 million unemployed people between 15 and 24 in the world the "lost generation".

"At the same time the rising cost of higher education has left a generation with unpayable debt and little chance of finding a job," states the report.

It further estimates that more than 25% (about 300 million people) of the world's youth have no productive work.

"Much of the younger generation lacks trust in traditional political institutions and leaders, while recent revelations about cyber espionage have undermined trust in the internet in general and the governance of cyberspace in particular," according to the report.

Female respondents and younger individuals gave higher scores for the impact particularly of environmental risks, such as water crises, greater incidence of natural catastrophes, the loss of biodiversity and greater incidence of extreme weather events.

Underemployment

Fiscal crises and structural unemployment and underemployment are regarded as important global risks, with strong links to issues like rising income inequality and political and social instability.

"The failure of global governance emerges as a central risk that is connected to many different issues," according to the report.
 
The decline of trust in institutions, lack of leadership, persisting gender inequalities and data mismanagement were among trends to watch, according to survey respondents.

Experts added further concerns including various forms of pollution and accidents or abuse involving new technologies, such as synthetic biology, automated vehicles and 3-D printing.

"The generation coming of age in the 2010s faces high unemployment and precarious job situations, hampering their efforts to build a future and raising the risk of social unrest," said the report.

In developing countries, an estimated two-thirds of the youth are not fulfilling their economic potential.

Ambition

"The generation of digital natives is full of ambition to improve the world, but feels disconnected from traditional politics. Their ambition needs to be harnessed if systemic risks are to be addressed," warns the report.
 
The chronic gap between the incomes of the richest and poorest citizens is seen as the risk that is most likely to cause serious damage globally in the coming decade, according to over 700 global experts that contributed to report.

“While in the emerging markets there are more jobs to be had, the workforce does not yet possess the broad based skill-sets necessary to satisfy demand," explained David Cole, group chief risk officer of Swiss Re.

"It’s vital we sit down with young people now and begin planning solutions aimed at creating fit-for-purpose educational systems, functional job-markets, efficient skills exchanges and the sustainable future we all depend on.”

- Fin24

Comments
  • Danie Malan - 2014-01-20 11:52

    And what does the cANCer say about this? Obviously very proud of their achievement...

      Rakka Maka - 2014-01-20 12:00

      They promise. They say that this time it is for real!!

      Thinker Black - 2014-01-20 12:09

      there is still a long way to go in terms of unemployment, for us to measuring ourselves against the world is not fair if one comes to think we still recovering from the apartheid regime. i'd say ANC has done a wonderful job so far!!!

      Danie Malan - 2014-01-20 12:13

      Thinker, your cANCer had 20 years now to change things but they, like yourself, still blame apartheid. Get over it!

      Revelgen - 2014-01-20 12:39

      Thinker, get real. The ANC have had 20 years in power. What have they done? Passed laws that making starting new businesses extremely difficult. Closed technikons and training colleges so school leavers cannot get skills training. And inculcated an attitude of entitlement: 'Everything must be for free'. Wonderful job? I think not mate. They HAVE however done a wonderful job of stealing public funds and rewarding laziness and incompetence. That is the TRUTH about the ANC, mate, like it or not. Seriously, it's time for change, for all our sakes, especially the Black kids of today who have no future.

      Alan Gernet - 2014-01-20 14:13

      eish - but when we extending the skool cuuryiculum to 14 yeers, thenwe got more poopils in skool, so the unemplymint figgas bekums less. Prowdly brought to ye0 by .....

      Leon Raulstone - 2014-01-20 14:29

      @ Thinker, are you stupid Apartheid is 20 years back it, took germany 12 years to recover after the 2nd World War, and that was worse..o Or maybe it is because the Europeans aren't stupid to keep trying to blame the past?

  • Jin Kazama - 2014-01-20 11:59

    A food parcel is worth more than a job in sa

  • Phinda Nondabula - 2014-01-20 11:59

    Youth in that age bracket should be in school or varsity not working.

      Michael Uys - 2014-01-20 12:06

      Phinda, I so agree with you, the country we live in you are not allowed to start working before 16, if I am incorrect please educate me some one, the fact is though, and this is where the private sector and government through DTI could come in and help the youngsters, yet youngsters must be willing to do this in the first place, get the guys and gals in during school holidays at minimum wage and train them in certain aspects, this way once these kids are done with school or uni, they would have at least approximately 2 to 3 months in house training and experience on their CV, I would especially encourage artisans to do so. Just my opinion, lets here what others say????

  • Raymon McNelly - 2014-01-20 12:03

    This is what everybody wanted right ? A wise man once said: All people get the government they deserve. South-African's vote along racial lines, and get exactly what they deserve. But hey, at least you are FREE, right !

      Revelgen - 2014-01-20 12:42

      Too true, Raymon: free to earn nothing, have no future and starve. Wonderful freedom.

      George Slade - 2014-01-20 13:09

      FREE and DOM ==FREEDOM !

  • Udzai Munhumumwe - 2014-01-20 12:06

    South Africa is a Third Worl country with pockets of first world development in areas inhabited by whites. Its delusional to compare South African stats with those of Portugal, Italy and Spain. Whites in RSA have a higher standard of living than countries like Spain, Italy, Denmark and Australia, but ladies and gentleman, its the black underclass in RSA who are worse of than the average Joe and Jill in Botswana, Rwanda, CAR and Lybia.

      TREDOUX_CM - 2014-01-20 12:22

      Go live in Rwanda or Libya and come back to us on that statement. Racist and Classist statement. In case you didn't notice there are whites begging on the streets too.

      Revelgen - 2014-01-20 12:43

      Udzai, you have no clue what you are talking about. If you think you do, please supply the facts. CAR, Rwanda etc are basket cases. Don't you ever read the news?

      Udzai Munhumumwe - 2014-01-20 13:06

      It is a fact that blacks in RSA are not safer than their counterparts in CAR, RWANDA and LYBIA. This month, more Black South Africans will have been murdered compared to the combined total in CAR, RWANDA and BURUNDI. Next time u drive in the 6 Lane Highway, take a glance at Diepsloot and Alexander! I hear Diepsloot is Afrikaans for Deep Sh*t! Is that so?

      Luke McKinley - 2014-01-20 13:27

      Well it aint the white people killing them man!

      Udzai Munhumumwe - 2014-01-20 13:31

      @Luke! I agree 100 %.

  • Hosh Tokelosh - 2014-01-20 12:06

    "The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living"

      Attie Stone - 2014-06-05 17:00

      More like "The problem with SA is that the stupid are cocksure while the intelligent have doubts".

  • Timothy Crowley - 2014-01-20 12:08

    The country needs more entrepreneurs, they are the ones that create new businesses and employment, but the current racial laws and resources available to do so freely are stifling, restrictive and unappetizing.

  • Putco Lebepe - 2014-01-20 12:10

    In future, they will be unemployable. The youth of this country will be receiving grants. Viva ANC!!!!

  • Chris Tredoux - 2014-01-20 12:16

    University didn't help me. Unemployed 27-year-old looking hard in Durban. If it wasn't for family I would be on the streets. The ANC doesn't care about us. Anyone got a job for me?

      Leon Raulstone - 2014-01-20 14:36

      Fully qualified IT Engineer(A+,N+,MCSE, MCITP and a CCNA) , paid my own studies, Cant get a job, dont fall into the BEE bracket, if you find any jobs let us know, they dont exist anymore. PS. Cant start your own company without handing half of it, to people with no qualifications or any incentive brought by them. Guess I will become a criminal like the rest of the young nation, hey maybe I can run for president then as well.

      Klaus Muller - 2014-01-20 17:31

      Leon, learn german (Goethe Institut) many jobs IT are on offer in germany for people with a work attitude

  • mantlekilo - 2014-01-20 12:18

    Our mistake is thinking we must create jobs to solve the problem.........

  • Andre Moreson - 2014-01-20 12:23

    Poor schooling produces kids that are untrainable for more complex (boilermakers, etc.) that require some skills to develope new skills: mathamatics, planning, etc. As the result we have a shortage of skilled craftsman and a over supply of manual workers. A situation that creates political and economical tension. Mechanisation on our mines are relatively limited and we are unproductive. Because of the low skill labour supply, mines are under pressure to employ and not modernise. Enter Marikane... guess what I am trying to say is that schooling and population explosion is serious challenges. Yet the ANC (including its Womens League) choose a president who is uneducated and a womaniser (and many other things) with 24 children. Impossible.

  • Fannie Mashilo - 2014-01-20 12:24

    Stop moaning and start selling bananas at the taxi rank,stop watching tv all day,look at foreigners they come to this country empty handed but ends up hiring us.

      Moloko Moloko - 2014-01-20 13:25

      Are you saying we must all start dealing drugs, cause selling banana's might get us killed by the Metro Police

  • Happy Tails - 2014-01-20 12:29

    Lol good one...

  • Happy Tails - 2014-01-20 12:30

    Lol good one...

  • Antionette Le Roux - 2014-01-20 12:44

    Strike a bit more, torche a bit more, dance a bit more, steal a bit more etc...... we could get this figure a bit higher

  • Bernadette Dominique Dutton - 2014-01-20 12:50

    How can they be employed when the pass rate is 30% so that means 70% failure. They do not want the help of white skilled people to train them. There is no hope for the country until there is change.

  • Blazer Blazer - 2014-01-20 12:53

    That's appalling...I blame the current government for these statistics

  • Delani Denty - 2014-01-20 12:56

    were a lost generation indeed n yet our goverment is not doing anything abt dis!!!

  • Louis Fourie - 2014-01-20 12:57

    Want ons wil net hê!!! Handjies is mos rond...

  • Delani Denty - 2014-01-20 12:57

    were a lost generation indeed n yet our goverment is not doing anything abt dis!!!

  • Delani Denty - 2014-01-20 12:58

    were a lost generation indeed n yet our goverment is not doing anything abt dis!!!

  • Ntlanganiso Qwabe - 2014-01-20 13:00

    I blame apartheid.

      Niel van der Walt - 2014-01-20 13:07

      Offcourse you do.

      Moloko Moloko - 2014-01-20 13:17

      Are you in ANC's NEC by any chance? Cause you lot think we're all idiots, idiot

      Luke McKinley - 2014-01-20 13:31

      Yip, I'm sure you will still blame apartheid 100 years from now, it's so easy!

      Mkhari Steven - 2014-01-20 13:58

      ohh God,another stupid fool

      Jan Hendrik Beukes - 2014-01-20 14:07

      I blame apartheid too, because it created short-sighted, ignorant fools like yourself, which the ANC exploits to stay in power and you guys just keep giving them the keys to the country every election after being spoonfed lies and T-shirts. Maybe you should try and open your eyes and take a look around SA and the condition its in, maybe then you'll point you finger somewhere else. P.S I'm unemployed now for over 2 years so screw your conclusions.

      Louis Fourie - 2014-01-20 15:02

      Oh so maybe the unemployed will need another 20 years to get off their asses and change their OWN future?

  • jungleboy - 2014-01-20 13:34

    Gongratulations ANC

  • Nkosingiphile Cofu - 2014-01-20 13:41

    The age group 15 to 24 is supposed to be at High school or Tertiary institutions not looking for jobs.

      Andre de Wit - 2014-01-20 14:07

      To be able to study, you need to pass school first, with 30% pass rate, how many do you think can study???

  • Henk Venter - 2014-01-20 13:50

    Yet they will STILL support zuma. Nkandla could supply jobs as follows: at R30000,00 per year - 8333 at R60000,00 per year - 4166 So R30000-00 is not much, BUT if you dont have it, it might let you feel you are a millionare!!! Who cares? NOT ZUMA and NOT the people surrounding him!!!!

  • Leshilo Kedibone - 2014-01-20 13:58

    I went to the dti and gauteng economic development to ask partnership to do SMEs awareness campaign in townships but they say. No it's taxpayers money they can't sponsor such. I'm not surprised by this stats

  • Andre de Wit - 2014-01-20 14:02

    Only a bronze medal Mr ANC, at least you can go for a silver then a gold medal now, therefore aim for a 20% pass mark then 10%. That will get you there !

  • Arcadia Jane - 2014-01-20 14:11

    Very proudly brought to you by the ANC!!

  • Missmizz Sabath - 2014-01-20 14:16

    What these, over 700 experts, have forgotten is - there is none so unemployed as those who don't want to work. But don't fret, Zuma has promised to create (how many) jobs over the next 5 ears.

  • Bokaba Collen - 2014-01-20 14:41

    Crime will triple!!!!

  • Felicité Thipe - 2014-01-20 14:42

    Maybe, just maybe more attention needs to be placed on the 85 people who own 46% of global wealth. Most of the world's problems will be solved when that root gets plucked.

      Anastasia Minsk - 2014-01-20 15:40

      How?

      Felicité Thipe - 2014-01-20 17:12

      These 85 people are shareholders, now normally what happens when a company cuts down on labour? The share price increases. What does that mean? Shareholders don't like employing much. Hahahahahahahaha... They prefer high profit at low operational cost, which in some instances also means labour exploitation. These 85 people are the root of many worldy problems. I'm not excusing other factors like incompetent governments, I'm just pointing out that many worldly problems are interlinked and have a domino effect.

      Mohammed Lee - 2014-01-20 18:08

      Like Sergey Brin, for example, who screwed us all over forever when he created Google from nothing... Or Bill Gates you brought you Windows and then donated $28 billion to charity. You can't seriously think life would be much better if it wasn't for these people.

  • Alan John Ingram - 2014-01-20 15:42

    Only since the anc came into power has the unemployment figure risen so high why?....due to the incompetence of the anc!!!!

  • Moosa Ally - 2014-01-20 16:20

    They gone damn lazy. They do not want to work.

  • David Luis - 2014-01-20 16:32

    Useless education, draconian labor laws and a generation of youths that has been brainwashed to have a silly sense of entitlement... most of them are unemployable.

  • Carl Nel - 2014-01-20 21:10

    Once they start learning grammar, punctuation, spelling and proper mathematics, finding jobs will be so much easier! 30% is not the pass mark that employers are looking for.

  • David Sanei - 2014-01-21 11:25

    These kids should get off there asses and stop blaming everybody. Go buy some of those Chinese export products and go sell them somewhere else with a markup. Its the survival of the fittest, if you are going to sit and blame the economy, the government then you will always be sitting. Stand Up take charge... The problem is they all want Cushy jobs, and sorry but life doesn't work that way, unless you are born in Royalty you start from the bottom, if that means sweeping the floor to taking the garbage out. Our Youth are too good for that. they want to jump straight into a job that pays R15k, has car allowance etc.. Not one kid has approached me for a job, so they not that hungry....

  • Zolisa Dlokovu - 2014-06-15 08:02

    Shocking

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