The effects of South Africa’s high unemployment will be felt for decades to come, SA Reserve Bank governor Gill Marcus said on Wednesday.<\/p>\n
“Joblessness is the most pressing economic issue facing the world today,” Marcus told delegates at a labour law conference in Johannesburg.<\/p>\n
She said the problem of unemployment was not unique to South Africa, and that many other countries were seeking ways to address it.<\/p>\n
“At least 200 million people are unemployed in the world today. This figure excludes those who are not actively seeking work.”<\/p>\n
The Statistics SA Quarterly Labour Force Survey released on Tuesday revealed that the number of unemployed increased to 4.7 million in the second quarter of 2013, the highest level yet.<\/p>\n
Between the first and second quarter of the year, 122,000 people joined the ranks of the unemployed.<\/p>\n
Marcus said the rate of job creation had been too slow and not sufficient to absorb the people seeking work.<\/p>\n
“We need an enabling environment that encourages investment, an increase in exports, and economic growth to be able to effectively fight unemployment.”<\/p>\n
SA business and innovation status<\/a><\/strong><\/p>\n Government failing ICT in SA<\/a><\/strong><\/p>\n