Neelam Rahim | neelam@radioislam.co.za

2-minute read
01 March 2023 | 21:08 CAT

Image: Mail and Guardian

There is good news after Statistics SA announced that the official unemployment rate declined further to 32.7% in the fourth quarter of 2022 from 32.9% in the third. This was despite record levels of load shedding, which was implemented during more than 200 days in 2022. Unemployment hit a record high of 35.3% in the fourth quarter of 2021 amid the pandemic fallout.

COO of Debt Rescue, Anneline van de Poel, told Radio Islam International that despite the decline, the number is a record high compared to world averages.

There are several contributing factors to employment, including businesses that struggle to keep their companies going without letting staff go or closing their businesses altogether.

Anneline said that the macro-economic factors which beyond our country’s control. The internal issues add pressure and worsen the burden; loadshedding is the biggest concern.

“The past few weeks have been tough with the high stages of stage 6. Most small businesses, especially startups are not manufacturing with no affordability for energy,” she says.

Meanwhile, it has been found that more people have been taking out loans to stay afloat – money that will have to be repaid, usually a few days after receiving their paycheck.

Listen to the interview of Your World Today with host Mufti Yusuf Moosagie and guest Anneline van de Poel.