Youth unemployment in SA a national crisis - economists

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Cape Town - Overall, South Africa’s labour market has failed to gain any meaningful traction over the past year with the unemployment rate, especially for the youth, remaining exceedingly high by global standards, says Stanlib chief economist Kevin Lings in a company note.

“Fundamentally, this reflects the lack of fixed investment spending by the private sector, as well as the sustained low business confidence.”

Statistics South Africa (StatsSA) announced the unemployment figures for the second quarter of 2017 on Monday, which showed that the unemployment rate remained stagnant at a worrying 27.7%.

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