labor market unemployment

Navigating South Africa’s Evolving Labor Landscape

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As of the end of 2024, South Africa’s labor market is slowly changing, with the unemployment rate dropping slightly to 31.9%. Although 132,000 new jobs were created, about 8 million people are still without work. Young people, aged 15 to 34, are facing tough times, but their unemployment rate improved a bit to 44.6%. Regions like the Western Cape and Gauteng are seeing job gains, especially in finance, while others lag behind. The country’s journey towards a better job market is ongoing, requiring creativity and new ideas to fully tap into its potential.

youth employment south africa

South Africa’s Youth Employment Revolution

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The Presidential Youth Employment Initiative (PYEI) in South Africa is a bright spark of hope for young people. Launched in 2020, this program helps connect education to jobs by providing training and support for local economies. In just a few years, it has created over 1.57 million work opportunities, helping many young South Africans find their place in the workforce. With innovative funding and strong community ties, the PYEI not only changes lives, like Thandi’s journey into digital marketing, but it also inspires a future full of possibilities for all youth in the country.

south africa youth unemployment

The Pioneering Initiative for Youth Employment: South Africa’s Ray of Hope

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South Africa faces a national emergency of youth unemployment, with over 50% of young people unemployed. At a gathering in Johannesburg, Minister Sindisiwe Chikunga outlined the government’s Presidential Youth Employment Initiative (PYEI), calling for a multipronged approach to address structural issues behind youth unemployment. The Minister stressed the importance of largescale catalyst interventions, upskilling and reskilling youth, and drawing lessons from successful job creation strategies in Asian nations. The PYEI seeks to empower the youth for a brighter future and secure a better future for South Africa.