Industrial metals continue momentum as investors cheer another better-than-expected inflation report in the US
The unskilled workforce in particular will be affected by the steps the country will be compelled to take
Some of the employees of the arms manufacturer have not been paid for more than two years
The premier announced her cabinet after a meeting with the ANC’s deployment committee and its alliance partners
The Walt Disney business bets on ad-free viewing as it hikes premiums
Stats SA says ongoing power cuts limited recovery in the sector and reduced production volumes
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Producer price index fell 0.5% in July from a month earlier, largely reflecting a drop in energy costs
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
The Italian SUV outguns the Bentley Bentayga's record
Duma Gqubule writes that “with an annual average of 6% GDP growth until 2030, we would only reduce the number of unemployed by 1.1-million. There would still be about 11.4-million unemployed people by the end of the decade, and the expanded unemployment rate would decline to 34.2% from 46.6%” (“What I told the president about fiscal constraints,” February 14).
My maths is that at that rate of growth, the narrow unemployment rate would fall to just over 25% in 2030. Sustain that for a further decade to 2040 and the rate would fall to just under 18%. Push well beyond the predictable horizon to 2050 and the rate would fall to just over 12%.
Had SA joined other emerging markets in recovering from the 2008 global financial crisis to resume the rates of economic growth it experienced ahead of that crisis, the country’s unemployment rate would today sit in that 12%-18% band.
Those numbers set out the formidable reform challenges that lie ahead for SA, but also the considerably better society that would materialise if they are met.
Frans CronjeVia email
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.