South Africa is currently mulling over ideas and agreements that recently came out of a two-day jobs summit. The country is losing the battle against high joblessness. The latest figures show unemployment stood at 27.2% during the second quarter of this year. The number is much higher, close to 40%, when discouraged work seekers are included. This is very high by international standards since the average global unemployment rate is 7.6% while the same figure for African countries is 8.8%.
Informal employment makes up roughly a third or 5 million of total non-agricultural employment in South Africa’s workforce.