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AIDC submission on the 2023 Medium-Term Economic Framework (MTEF)

The Alternative Information and Development Centre (AIDC), in support, and as part of the Budget Justice Coalition (BJC) has made a submission on the 2023 Medium-Term Economic Framework (MTEF) with a specific focus on the long-standing, chronic and unique challenge of unemployment in South Africa.

South Africa’s unemployment rate is among the highest in the world. Each year the number of new entrants into the job market far exceeds the number of job opportunities, leading to ever-increasing unemployment. According to the last 2021 Quarterly Labour Force Survey (QLFS) the unemployment rate stood at 34.9%. In June 2022 – the figure stood at 34.5% – with the worst unemployment rates in the Eastern Cape Province.

But this unemployment statistic only serves to understate the real extent of unemployment. When discouraged workers are included, the expanded unemployment rate rises to 46.6% – but even this figure doesn’t capture the true extent of unemployment in South Africa.

Read more on the document below.

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