A disturbing report published on 3 December 2015 by SA Labour News Unemployment rate could be as high as 50% in seven years. Fin24 writes that according to Free Market Foundation (FMF) economist Loane Sharp, even though the economy has been slowing for several years, government’s meddling in labour affairs is probably the greatest killer of jobs. Read this report by Ciaran Ryan in full at Fin24
“Government is the only employer doing any serious hiring and the public sector now employs more than 2.1m people, roughly a third more than a decade ago. In contrast, the private sector has shed 4% of its jobs over the same period. “This is the most worrying aspect of our economy, that the only sector which is actually growing from a jobs perspective is the public sector… The private sector has stopped hiring, in fact it is laying off workers,” says Sharp, who notes that 5m people entered the labour market over the past decade, but only 3m found work”.