Young people aged 15 to 34 years had an unemployment rate of 43.4% in the third quarter, compared with 45.3% in the second, according to Statistics SA. The decline mimicked the drop in the country’s overall unemployment rate, but the figures still show that close to half of the young people who should be economically active are jobless.
“South Africa’s high youth unemployment rate has significant economic and social implications. The lack of job opportunities for young people not only affects their individual prospects but also limits the country’s potential to harness their skills, creativity, and innovation,” Angelika Goliger, EY Africa’s chief economist, said.
Youth aged 15 to 24 years and 25 to 34 years continue to have the highest unemployment rates at 58% and 38.3% respectively. About 3.3 million, or 32.7%, out of 10.2 million young people aged 15 to 24 years were not in employment, education or training and “the youth remain vulnerable in the labour market,” Stats SA said when it presented its Quarterly Labour Force Survey for the three months to September.
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