Government and banks should return to the coal-mining party
The unemployment rate of 29%, the highest since the 2008 recession, equates to 6.7-million able-bodied individuals between 15 and 64 years old who are excluded from the labour force. Regarding the extended definition of unemployment, including discouraged work-seekers, the picture becomes even grimmer, with about 10-million people out of work.
The situation is yet more frightening in the mining sector. According to the latest Stats SA quarterly labour force survey, more than 36,000 jobs were shed in the second quarter of2019, representing a 12.4% decrease in employment in the sector year on year.