The Unemployment Rate in South Africa

The unemployment rate in South Africa has skyrocketed to a peak since the global financial crisis 10 years ago. As the economy shrank, the unemployment rate rose and President Cyril Lama promised a reversal. The increase in unemployment insurance is ahead of the sudden increase in unemployment claims from the Unemployment Insurance Fund (UIF) between 2018 and 2019. Claims increased by 21% to Rmb 9.2 billion, the Labor Department said.

Unemployment benefits

The increase in unemployment benefits is due to retirement pensions that have plagued the nation because of economic growth deterioration," the unemployment benefit said. In February, the Treasury said unemployment benefits would increase to about R16 billion by 2021, which is consistent with an increase in fund assets, but will be offset by the debt of other Social Security funds, such as road accident funds. It rand 242 billion red.

The reduction of workforce in many sectors will continue over the next few years. On Tuesday, the state-owned power company Eskom saw nearly 20 billion Rand and annual loss, and inevitably created a shrewd staff cutback in the 7,000 area. Ramaphosa promised to create 100,000 new jobs at the 2018 employment summit, which is at the heart of the recovery promise, but analysts wonder if he can achieve his goal.

The unemployment rate in the second quarter rose to 29.9 percent from 27.6 percent in the first quarter. A survey by the South African National Statistical Office shows that unemployment rates have increased due to reduced employment, transportation and mining of private households. Risenga Maluleke, a statistician, added that the unemployment rate was the highest since 2008 when quarterly surveys began, and that it will be difficult to create jobs once the economy is in recession.

According to the South African Statistical Office, there are 6.7 million jobs in the six months to the end of June. The economy is growing at an average of about 101,000 per quarter, which produces an average of 53,000 jobs per quarter," said Adcorp Innocent Dutiro, CEO of The Economy. This means that the economy is generally absorbing only one in two potential workers.

Warning that the two rating companies warned

Investors have reported a collapse and rising debt prices last week, warning that the two rating companies warned of the impact of the scary economic growth prospects for the $ 59.1 billion ($ 4.15 billion) bailout on state power company Eskom. This further diminished growth prospects in the most industrialized economies of the continent, while Ramaphosas added pressure from political battles with factions within the ANC.

Unemployment rate data also showed 8.2m, or 40.3% of the 20.4m population aged 15-34, and emphasized high social and political risks of unemployment due to the lack of employment, education or training. Labor unions that supported Ramaphosa's campaign threatened to launch a strike on cuts.

The SARB superstition, which has a narrower government bond and trafficking and budget deficit, is at the expense of expanding the industry and creating jobs," spokesman Cosatu Sizwe Pamla said.

The management team

South Africa will fundamentally review the management team as they move to the new structure of the soccer team, including saying goodbye to coach Ottis Gibson. West Indies' Indian Gibson will not renew his contract after the World Cup in England. Protea did not make it to the semi-finals in just three games in nine games. Cricket South Africa (CSA) said in a Sunday press release," The current (current) team of cricket coaches and other team executives will not remain part of their plans.

CSA will appoint a team manager instead, and the team manager will select three types of coaching staff and captains. Medical staff and administrative staff will also report to him. The team manager will report to CSA Acting Director of Corrie van Zyl Cricket (CS) and report to Chief Executive. The structure is similar to that of the best football club in Europe where the technical director is in charge of coaching staff and players. It is.

Van Zyl will appoint a temporary management team, a selection committee, and a captain for a three-day test tour in India in September and October, while CSA promotes cricket directors, senior team leaders, and senior staff. This change will highlight the new and exciting era of SA Cricket and demonstrate the best practices in professional sports," said Thabang Moroe, chief executive officer of CSA.

I have to emphasize that the new structure is not a hasty decision that has been taken by the committee after many deliberations, taking into account all the elements of our current state of cricket and the plans to be reached within the timeline we have set .

Ottis Gibson, another member of senior management and our long-serving team manager, Dr (Mohammed) Moosajee, would like to thank for their nationwide service at South African crickets."
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