Times tough for graduates

2016-04-27 06:00
DELIGHTED graduates Vusimnzi Madonsela and Grace Hendricks, who both received Baccalaureus of Management Leadership degrees, are congratulated on their individual achievements by Prof. Jonathan Jansen, vice-chancellor and rector of the University of the Free State (UFS). These two graduates were among about 500 graduates who received their qualifications after successfully completing their studies in the different fields in the Faculty of Economic and Management Sciences. Photo: Teboho Setena

DELIGHTED graduates Vusimnzi Madonsela and Grace Hendricks, who both received Baccalaureus of Management Leadership degrees, are congratulated on their individual achievements by Prof. Jonathan Jansen, vice-chancellor and rector of the University of the Free State (UFS). These two graduates were among about 500 graduates who received their qualifications after successfully completing their studies in the different fields in the Faculty of Economic and Management Sciences. Photo: Teboho Setena

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ECONOMIST Dawie Roodt has issued a strong warning that South Africa’s slow economic growth limits employment prospects for new university graduates. He highlighted this challenge when addressing about 500 students who graduated with diplomas, degrees and honours at the University of the Free State (UFS) on Thursday, 14 April.

The knowledgeable economist was one of the guest speakers at the four-day graduation ceremony on the UFS Main Campus in Bloemfontein.

Roodt anticipates that South Africa’s economy will grow by just under 1% in the next quarter, leaving many job-seeking graduates trapped in poverty. He said South Africa was facing a recession which would see the current unemployment rate escalating. According to Statistics South Africa, the country’s unemployment rate is 25,2%.

He pointed to the three challenges crippling South Africa’s potential to absorb graduates in the job market as being poverty, inequality and unemployment. “The fact is that South Africa does not have enough rich people to create possible employment to address inequality and poverty. I would ban computers and technological apparatus in order to create jobs by having people deliver mail.

“South Africa needs real jobs to grow the economy and create sustainable jobs. There is a need to protect property rights.

South Africa’s economy will take a long time to prosper and that is the reality you as graduates are going to face. South Africa’s current economy and state need rich and successful people. Your qualification is key in growing South Africa’s economy and I wish you to become rich and successful,” said Roodt.

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