Unemployment puts Ramaphosa's plans for the economy under more strain

Unemployment puts Ramaphosa's plans for the economy under more strain

- The latest employment figures are showing an increase in unemployment in South Africa

- President Ramaphosa has admitted that the rates are worrying

- The president has announced another government stimulus plan to take on this problem

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South Africa's economy is under strain, and so is President Ramaphosa's plans to strengthen the economy.

Stats SA released South Africa's employment figures on Tuesday and it shows that in 2018's second quarter unemployment went up to 27.2%. And the expanded definition of unemployment went up to 37.2%.

According to a report by EWN, President Ramaphosa finds the unemployment figures worrying.

The president addressed the nation on Tuesday evening and said that a "stimulus package" will be delivered by the government and it will help create jobs.

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President Ramaphosa also said at the same time that there will be a change made to the Constitution to enable land expropriation without compensation, as reported by Briefly.co.za.

The president stated that the government is committed to developing the stimulus to take on unemployment as well as fighting the effects of the higher costs of living.

The Daily Maverick reports that Reserve Bank Governor Lesetja Kganyago announced that South Africa's economy growth reduced from 1.7% to 1.2%.

The package will include more support in entrepreneurship and employment for South Africa's youth and women, more investment in public infrastructure and enterprises.

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Source: Briefly.co.za

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