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Adcorp Employment Index 2014 Labour Market Update

Adcorp Employment Index 2014 Labour Market Update. Unemployment remains SA’s major challenge. One of post-apartheid’s greatest disappointments is the economy’s failure to create jobs – 13% unemployment in 1994 to 25% currently

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Adcorp Employment Index 2014 Labour Market Update

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  1. Adcorp Employment Index 2014 Labour Market Update

  2. Unemployment remains SA’s major challenge • One of post-apartheid’s greatest disappointments is the economy’s failure to create jobs – 13% unemployment in 1994 to 25% currently • Official labour force size: 18.6 million of which 14million formally employed • 4.6 million South Africans are currently unemployed • 2.2 million permanently discouraged about their prospects of finding work • 0.6 million people underemployed • 15.9% work on a part-time basis • 37.7% work on a non-permanent contract basis • 3.0million (65.2%) of those officially unemployed have been out of work for more than a year • Nearly half (44.3%) of the economically active population is idle, and a staggering proportion (74.5%) of youth under the age of 25 is idle • By any measure, unemployment is easily South Africa’s most pressing socio-economic problem • Who are the unemployed? Youth (72%), black African (85%), never worked before (51%)

  3. Real wages in South Africa Post-Labour Relations Act (1995) Note: * After-inflation wages in the non-agricultural private sector. Source: South African Reserve Bank (2012).

  4. Labour productivity in South Africa Post-Labour Relations Act (1995) Note: * The marginal productivity of labour, after removing the effect of capital equipment, machinery and other technologies. Source: Statistics South Africa (2012).

  5. Economic activity and employment Data sources: South African Reserve Bank, Statistics SA.

  6. Typical and atypical employment Typical employment Atypical employment Data source: Adcorp Analytics. Data source: Adcorp Analytics.

  7. Declining union membership Unionization rate by sector Unionization rate Data source: Statistics SA. Data source: Statistics SA.

  8. Affirmative action Average Black income Number of high-income Blacks Data source: Statistics SA. Data source: Statistics SA.

  9. The cash economy Notes and Coin in Circulation vs. Gross Domestic Expenditure Source: South African Reserve Bank (2011)

  10. The light economy South Africa, 1992-2008 GDP and AVDN for 172 countries Data source: Henderson, V., A. Storeygard and D. N. Weil (2011). “A Bright Idea for Measuring Economic Growth”. American Economic Review 101:3, 194-199 Data source: Henderson et al. (op. cit.)

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