EM­PLOY­MENT

Finweek English Edition - - CONTEXT -

Be­tween 1994 and 2012, the rate of un­em­ploy­ment among white peo­ple in­creased from 3% to 5.7%.

While this is a sig­nif­i­cant in­crease, the ac­tual rate re­mains re­mark­ably low by national stan­dards. For ex­am­ple, in 2012, 29% of black South Africans were un­em­ployed. Black peo­ple were there­fore five times more likely to be un­em­ployed.

The white un­em­ploy­ment rate was low, even when com­pared to a host of in­ter­na­tional bench­marks. In the US, for ex­am­ple, the rate in 2012 was 7.6%, in Bri­tain 7.9% and 7.2% in Canada.

“In 1994, 75% of the white pop­u­la­tion earn­ing over R500 000 a year were for­mally em­ployed, re­ceiv­ing salaries and bonuses. By 2009, this fig­ure had been com­pletely re­versed and

75% of whites in this in­come cat­e­gory were self-em­ployed, ei­ther as own­ers of busi­nesses or as con­sul­tants or agents.”

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