The looming recession has come as bad news to South Africa’s unemployed job-seekers.
Only 21 377 000 of South Africans aged between 18 and 64, feel they have the potential to be economically active, and 26.6% of them are unemployed.
This figure now seems set to rise, and business owners are losing optimism.
To put this into perspective, there are 36 431 000 South Africans aged between 18 and 64.
15 054 000 of them are not economically active or have given up trying to find gainful employment.
The recent downgrade and subsequent recession are a direct result of government corruption and general mismanagement. More than anything, a climate of optimism needs to be created. This will not only change the mindset of South African business owners but will also shift the perspective of foreign investors. An economic boost would have a ripple effect that will result in job creation and a lower unemployment rate across every key economic sector in South Africa.