Jobless rate proves change is needed
THE Eastern Cape now has the highest unemployment rate in the country together with the Free State, both at 34.4.%, according to the Quarterly Labour Force Survey, released by Statistics SA on Monday. The Eastern Cape also had the highest expanded rate of unemployment, of 44.5%, after the Northern Cape.
The Eastern Cape is once again paying the price of political uncertainty when it comes to investment for job-creation. Unless we get the politics right, we will not get our economy right. We will continue on this tragic path of high unemployment and little investment as long as President Jacob Zuma stays in power and the scourge of state capture is allowed to continue.
Together with economic policy reforms, we can put the country on an improved growth trajectory and create the millions of jobs that are necessary.
The Eastern Cape’s unemployment rate went up by 2.2 percentage points, from 32.2% in the first quarter of 2017 to 34.4% in the second quarter.
This means that in the second quarter, a total of 743 000 people in the province were without jobs, compared to 684 000 in the first quarter.
This represents a total of 59 000 more people who are unable to put bread on the table for their families.
The hardship of unemployment is wreaking havoc amongst families as they battle to pay for schooling, food and medical expenses.
Companies in South Africa are sitting on at least R1.4-trillion in cash that should be invested for the benefit of growing our economy but the current political direction in the country is resulting in an investment strike.
A change in government is needed to put us on a new growth path of opportunity as the ANC’s policies are working against the people and not for the people. They only serve to enrich the few and not the many. — Bobby Stevenson, DA MPL