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Analysis: "The fact that South Africa hasn't grown its informal economy is probably a missed opportunity"

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South Africa has a joblessness crisis and  fixing it will take fresh thinking to find a solution.  Over the past 10 years, South Africa has created only 130 000 new formal work opportunities on average a year – not nearly enough to absorb the 12-million work seekers currently unemployed. According to Justin Visagie, Associate Professor at the Southern Centre for Inequality Studies (SCIS) at WITS, the size of the challenge is such that even if job growth in the formal sector were to grow to three percent per annum, it would take 50 years to wipe out unemployment. South Africa's official unemployment rate stands at approximately 31.4% to 32.9%. Youth unemployment remains critically high, with some estimates exceeding 45% in the 15–34 age bracket. So, what are our options? Bongiwe Zwane spoke to Justin Visagie, Associate Professor at the Southern Centre for Inequality Studies (SCIS) at WITS

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