South Africa’s unemployment rate has increased to a staggering 29%, the highest since 2013. With youth unemployment accounting for much of the increase, this according to results from a survey conducted by StatsSA. The results further indicated that the rate of unemployed females was higher than male counterparts. According to the survey, the first quarter of the year suggests an increase in youth employment; however, this percentage drops in the last quarter of the year.
As was expected, the public attention regarding job opportunities turned to President Ramaphosa; who despite a name change in the Department of Labour to the Department of Employment and Labour, has failed to deliver on job promises. In his budget speech, President Ramaphosa said: “we will continue to develop programmes to ensure that economically excluded young people are work-ready and absorbed into sectors where ‘jobs demand’ is growing.”Sharing the same outlook as the President was Minister for Employment and Labour, Thulas Nxesi. He said: “in the current situation of deep systematic unemployment and slow growth, the government has to use its active labour market policies to improve access to jobs and skills.” One way in which we can eradicate youth unemployment is by participating in the Yes4Youth initiative. We explain below.
Y.E.S – a solution for youth unemployment
While there was a larger percentage of educated unemployed youth, matric and some tertiary the bulk were either, uneducated or unemployable. A programme like Yes4Youth can change this statistic by helping youth become employable.
So, what is Y.E.S? Y.E.S is a joint initiative between government and the private sector that aims to eradicate youth unemployment. When our youth work, our economy grows. Participating in the Y.E.S initiative gives you a chance to be part of the solution to eradicate one of our country’s ills; plus, you open your business up to the opportunity of improving your B-BBEE status level. In other words, you are incentivised for employing youths! Sounds like something you should get on board with? Speak to one of our Y.E.S consultants today.