Amidst the coronavirus pandemic, South Africa is still setting records. While soon achieving the record with the lowest vaccination rate and the highest new infection figures again, the country has now set another sad world record in having the highest unemployment rate in the world.
The core unemployment rate increased over the last quarter from 32.2% to 34.4%, while under the extended definition, which includes people who are able to work but not looking for a job, increased to a record high of 44.4%. That is almost half of the able population!
There are many factors to blame, which all lead back to one single cause: a spectacularly incompetent government.
The reckless actions by the National Corona Council locking down complete sectors of the industry under the false pretence of curbing the pandemic, the closing down of various sections within the Department of Home Affairs disabling any form of new residence permits for investors, the inability to offer any business – local or foreign – reliable utilities to operate without interruption and – last but definitely not least – an endless list of corruption cases without proper consequences and a crippling unrest where its instigators are still at large.
But the buck of dismay does not stop here as the high unemployment again causes increasing crime numbers recently reported and makes those without income easy prey for the ruling party and the EFF to collect votes based on empty promises.
There is no quick-fix to this downward spiral and without putting competent leaders into the driver seats of our economy the country is not only facing the abyss, it is already halfway down!