Capitec CEO argues SA’s jobless rate as low as 10%
SA’s huge informal sector must be counted , says Gerrie Fourie
10 June 2025 - 05:00
Capitec CEO Gerrie Fourie is calling on SA to rethink its unemployment metric, contending that when the vast informal sector is taken into account, the headline figure of 32.9% could be closer to 10%.
“What is interesting is when you look at the unemployment rate, we talk about 32%. But Stats SA doesn’t count self-employed people. I really think that is an area we must correct. The unemployment rate is probably actually 10%. Just go look at the number of people in the township informal market, who are selling all sorts of stuff, who have a turnover of R1,000 a day,” Fourie said...
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