Thwarting Unemployment in South Africa

Unemployment is something that has always plagued South Africa for many years. Although the government has launched several projects aimed at tackling this issue many of them fail to provide a lasting solution.

Many organizations in the private sector have also made attempts at trying to curb this issue. However when compared to the steady rise in population, matriculants, graduates and other school leavers. There aren’t enough positions being created for them to fill in the ever-expanding gap.

The below extract and graph are taken from Trading Economics & Statistics South Africa show how the unemployment rate has spiked, especially since the start of the pandemic.

South Africa's unemployment rate climbed to 35.3% in the fourth quarter of 2021, up from 34.9% in the previous period. It was the highest jobless rate since comparable data began in 2008. The number of unemployed persons increased by 278 thousand to 7.9 million, employment rose by 262 thousand to 14.5 million and the labour force went up by 540 thousand to 22.5 million.?

Job losses were primarily observed in manufacturing (-85 thousand) and construction (-35 thousand). The expanded definition of unemployment, including people who have stopped looking for work, was at 46.2%, down slightly from 46.6% in the third quarter. The youth unemployment rate, measuring job-seekers between 15 and 24 years old, was unchanged at a record high of 66.5%.

This has led ordinary citizens to consider finding alternative means of earning an income. Affinity Business Network is a prime example of such an opportunity as it provides individuals with an opportunity to market a medical cover online at little to no overhead costs.

During the course of 2021 around 2000 of its members managed to net an estimated income of more than R 9 million from the new business alone. It also enables one to start building a passive income which could prove as a source of generational wealth for families, breaking the cycle that current generations are facing.