Pretoria-While unemployment continues to plague South Africa, reducing it requires the economy to be on a labour absorbing growth path.
“Reducing South Africa’s high levels of unemployment requires the economy to be on a labour-absorbing growth path, as well as the development of entrepreneurship amongst our youth in terms of interest, skills and creation of opportunities.
This depends on a successful reorientation of the economy to raise labour demand, with matching improvements on the supply side,” said Minister in the Presidency responsible for planning, monitoring and evaluation, Jeff Radebe.
The Minister was speaking at the launch of the 2014 Development Indicators in Pretoria on Sunday.
The data in the 2014 report reflects that one in four working age adults actively seeking employment remained unemployed during the period under review.
In 2014, youth unemployment reached a peak of 48.8% amongst the 15-24 year age group and 29.6% amongst the age group 25-34 years of age.
Whereas unemployment is exacerbated by lack of appropriate skills, this is also compounded by the shortage of suitable post-school education opportunities, noted the minister.
Re-industrialisation and economic diversification are also necessary to boost job creation, and these factors are at the heart of the National Development Plan 2030 (NDP), the New Growth Path and the Industrial Policy Action Plan.
“The stark unemployment figures I have just outlined have continuously spurred government into action, and not into despondency,” said Minister Radebe.
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