How create opportunities for the youthMarch 17, 2021 2023-02-02 16:30
How create opportunities for the youth
Unemployment in South Africa, especially among the youth, is undoubtedly the most important socioeconomic challenge. For the last two decades, the unemployment rate has exceeded 20%. At the end of 2021, it reached a record high of 35%, making South Africa one of the countries with the highest unemployment rate in the world. Recently, however, the Quarterly Labour Force Survey revealed that South Africa’s overall unemployment rate decreased to 32.9% and our youth unemployment rate decreased to 45.5% in the third quarter of 2022.
This improvement, while marginal, gives cause for optimism. But continuing this upward trend will require us to consider the future of work. Technological innovation is leading to major disruptions in nearly every industry, while digital skills are in short supply. Concerns over mass job displacement are looming due to artificial intelligence and automation. The private and public sectors must accelerate efforts to prepare our workforce for this technological shift.