South Africa’s increasing unemployment levels are a huge threat to future economic growth and the overall prosperity of its citizens.
Statistics South Africa’s most recent Quarterly Labour Force Survey shows the country’s unemployment rate climbed to 30.1% in the first quarter of 2020.
Of the 23.5 million people in the country that form part of the labour force, 7.1 million didn’t have a job even before South Africa entered the national COVID-19 lockdown.
Multiple companies have also had to resort to pay cuts or retrenchments in order to stay afloat.
This has likely worsened the chances of job seekers securing employment in South Africa.