Unemployment rates are likely to remain high with lower local and global growth, says Minister in the Presidency Jeff Radebe. SA grew about 0.5% in 2016 and the Treasury expects the economy to expand 1.3% in 2017. This is lower than the 5.4% target set out in the National Development Plan (NDP), a long-term plan articulating the country’s vision to cut unemployment, eliminate poverty and reduce inequality by 2030. SA continues to struggle with high unemployment with young people the worst affected. The unemployment rate, at about 27%, has been relentlessly climbing in recent years and the trend shows no sign of abating as the country continues to record less impressive rates of growth. Responding to a parliamentary question on Monday, Radebe said the global and domestic economies remained weak. He said growth had essentially stagnated in 2016 and there might be a modest recovery towards 2% by 2020. "Unemployment rates are likely to remain high with lower growth. As part of the globa...
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