Earlier this week, Statistics South Africa (Stats SA) released a report that the country’s unemployment has increased to 27.6 percent in the first quarter of 2019. An increase by half a percent compared to the rate of the fourth quarter of 2018 which was 27.1 percent.
Following the report, the South African government tried to reassure citizens that it is committed to accelerating its interventions aimed at unlocking investment opportunities, growing the economy and creating much-needed jobs.
“As a country we have placed economic growth and job creation at the centre of our national agenda. Local and foreign investments play an important role in growing our economy and creating sustainable jobs,” said GCIS acting director general, Phumla Williams.
According to SA News, Williams said that the high unemployment rate is a serious concern for the government, and decisive steps are being taken such as rebuilding investor confidence, ending corruption and state capture including restoring good governance and strengthening critical public institutions.
“All South Africans must join hands and make an extraordinary effort to overcome the economic challenge we face. The South African economy must grow at a higher rate in order to create enough jobs and lift people out of poverty,” explained Williams.
Furthermore, the publication adds that the key among government interventions is the Youth Employment Service, Jobs Summit, Economic Stimulus recovery plan and Investment Conference, which are a short-term and long-term measures designed to reignite the economy.
“Investments significantly contribute to our national goals of socio-economic development ion breaking the back of poverty, unemployment and inequality,” added Williams.