PORT ELIZABETH - With South Africa's unemployment rate steady at 29.1% in the fourth quarter of 2019, this country has the fourth-highest unemployment rate out of 182 countries tracked by Trading Economics, after Namibia, Bosnia & Herzegovina and Angola.
Statistics South Africa (Stats SA) reported that South Africa’s unemployment rate was unchanged at 29.1%, compared to a National Development Plan (NDP) goal of 14% for this year.
"Despite creating 117,000 formal sector jobs in the fourth quarter, South Africa now has the fourth-highest unemployment rate in the world," PwC said in an article.
It said the World Economic Forum (WEF) Global Competitiveness Report 2019 also shows that South Africa's labour force lacks appropriate of sufficient skills, which is a further challenge for the unemployment problem.
But PwC's 23rd Annual Global CEO Survey found that 50% of South African CEOs believe their organisations are making progress in establishing upskilling programmes for their workers.