South Africa now has the worst unemployment in the world according to Bloomberg, and now falls among other disastrous countries such as Colombia, Cuba, Syria and Venezuela. For all Ramaphosa’s nice speeches and promises, he does not understand that one main goal of a good government, is to establish an economy, which gives the people of the country the opportunity to make an honest living. The ANC government is not doing this at all. They set an example of corruption and immaturity. Corruption does not build an economy. Looting is just that. It builds nothing. And then the ridiculous reasons put forward: free housing, free education, free everything, which only exacerbates the above. And if ANC supporters do not get it for free, they throw a tantrum like a toddler, and burn down everything they see.
The unemployment rate in South Africa rose to a new record high of 34.4%. The incredibly high unemployment rates apparently contribute to social unrest, and were reportedly a major factor in the outbreak of violence and looting this winter.
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ANC government’s Statistician-General Risenga Maluleke announced on Tuesday that the unemployment rate had risen from 32.6% in the first three months of the year, to 34.4% in the second quarter. According to Bloomberg, the figure is the highest of 82 countries monitored by the financial software and media industry.
“The impact of COVID-19 that we are seeing is that most businesses have closed… we can see it with the increase in unemployment,” Maluleke stated the obvious at a news conference, but said nothing about the ANC’s draconian lockdown. which caused it. Job losses from the second quarter come mainly in the financial sector, which shook off about 278,000 workers. There were a further 166,000 job losses in social services and 83,000 in manufacturing.
A broad definition of unemployment, which includes those who refrain from looking for work, indicates that 44.4% of the labour force were out of work in the second quarter. The figure is equivalent to about 12 million people.
Job creation was placed by Cyril Ramaphosa as the centre of a plan for post-pandemic South Africa, but the country still suffers from Covid-19 constraints and long-term economic mismanagement and corruption. The destructive actions over 27 years have not only landed SA in junk status, but have also sent unemployment figures soaring. Money has to come from somewhere. One has to work to earn it.
It is really not necessary to explain good economic principles to the ANC, but maybe someone should explain it to the ANC government. So that they can realize that their corruption and self-enrichment harms not only the rest of the country, but also the country where their children must one day exist… except those who are sent to rich western private schools. And now the latest excuse is that unemployment motivates looting. Theft, murder and looting of the property and businesses of those that do try to earn an income, and create jobs.