Unemployment. The number of people unemployed in 2014 fell by 1.9 million, to 8.9 million. The drop was the largest over-the-year decline in unemployment since the recent recession and was preceded by 3 years of declines ranging from 1.2 million to 1.4 million.
What type of unemployment does South Africa suffer from?
The major proportion of unemployment in South Africa is Structural. Structural unemployment is caused by changes in the composition of labour supply and demand. Structural unemployment is part of the nation’s natural rate of unemployment.
What are the impacts of unemployment in South Africa?
Unemployment has both individual and social consequences that require public policy interventions. For the individual, unemployment can cause psychological distress, which can lead to a decline in life satisfaction. It can also lead to mood disorders and substance abuse.
