Tuesday, June 23, 2015

South Africa’s economy is stagnant, with growth running at an annual rate of just 1.3%

That matters a great deal because the economy needs to expand by at least 5% every year if poverty and unemployment are both to fall. Instead, the number of people out of work has risen by 1.6 million since 2009. Unemployment - even at the narrowest definition - now stands at 26%. If you use a broad definition that includes people who are too demoralized to look for work, the jobless total rises to 36%.

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