SA has the highest unemployment rate in the world, according to the World Bank. Djibouti is in second position. We also have the second-highest youth unemployment rate in the world after Djibouti.

Mass unemployment is an opportunity cost — the lost GDP that could have been produced if the jobless millions were working. Assuming the unemployed would have the same GDP per worker as the employed, at a 5% unemployment rate SA would have had a R10.1-trillion economy in 2022 — two thirds higher than the actual figure of R6.6-trillion. The R3.5-trillion difference between the two numbers — that lost GDP — is the cost of mass unemployment. ..

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