The unemployment rate has prompted many South Africans to rely on social security benefits, says Bheki Mahlobo, senior analyst at the Center for Risk Analysis (CRA).
Speaking at a webinar on Thursday ahead of the launch of the Socio- Economic Survey of SA, he said that the number of social grants paid in September 2021 was about 25 million, compared to fewer than 15 million people in the employment sector.
The CRA poses political, economic risk Policy advice and scenario planning services for organizations and individuals.
Statistics show that in the fourth quarter of 2021, the unemployment rate was 46.2%. “The unemployment rate is the highest since 1994,” he said.
Among other trends discussed were the economy and labor market and social indicators, including welfare, living conditions, crime and the key risks facing South Africa over the next decade.
CRA Research Director Thuthukani Ndebele said work on the survey never stops. “We brainstorm and think about what to include in the report.
“We’re not just updating the survey. We use official and unofficial sources and rely on surveys in certain areas. And from a number of sources we get a unique product because you have a lot of data.”
CEO David Ansara said they measured several variables and trends that show the downward spiral.
< p>“If we compare this to the world average, the picture is bleak. We need the right politics,” he said.
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