The real unemployment rate in SA is 38.5%

LaraC

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“Significantly more urgency is required with the implementation of structural reforms to stem the economic and fiscal deterioration currently being experienced in the SA economy,” said Nedbank CEO Mike Brown.
Which structural reforms might that be?

It seems as if government is dead set in propping up falling SOE's, implementing unsustainable project such as the NHI and increasing personal and corporate tax.
Not to mention regulating business to death. :(
 

Vrotappel

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Feb 22, 2005
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What we actually must report is the employment rate. Total people employed/total population.
 

Vrotappel

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6-year-olds aren't allowed to work
It does not really matter. It will give a better indication of how screwed a country is.

We actually have a stat on this.

South Africa Employment Rate

In South Africa, the employment rate measures the number of people who have a job as a percentage of the working age population. This page provides - South Africa Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Employment Rate - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual - 42.44%
Employed Persons - 10 174 000
Source
 

Pythonista

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Dec 28, 2009
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446
Worth pointing out that at the height of the Great Depression in 1920s/early 30's, the US unemployment rate was under 30%. Now that's depressing.
 

EasyComs

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Jul 2, 2006
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Its time to increase the VAT threshold to R10million & stop killing SME's with red tape.
Job growth depends entirely on small businesses.
 

newby_investor

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Aug 8, 2018
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Its time to increase the VAT threshold to R10million & stop killing SME's with red tape.
Job growth depends entirely on small businesses.
Talking as the owner of a small business, it's not just vat and red tape.

Sometimes in a tight economy people just aren't spending. It's a hard problem to kick-start an economy in this condition.
 

EasyComs

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Talking as the owner of a small business, it's not just vat and red tape.

Sometimes in a tight economy people just aren't spending. It's a hard problem to kick-start an economy in this condition.
Have a look at all the regulations repealed in the US since pres Trump came in - that would be a good list to work through. They repealed 68 regulations for every 2 new ones passed. More regulation is the death knell for a country.
VAT represents an extra 7.5 % tax on new struggling SME's as approx half of costs are non-vatable but need revenue to pay - so it starts there. The threshold has remained the same since 2008 !
People spend more as the pressure lifts, but it takes vision to understand that and determination and confidence to implement - very difficult or impossible for a socialist.
 
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