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    Pununu Brian
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    The unemployment rate among South African youth aged 15-24 is 64%, far higher than the national average of 34.5%, showing they are the most disadvantaged in the labor market. While historically disadvantaged communities lack resources and education, developing the informal sector provides opportunities for young entrepreneurs as over half of the unemployed population lives in townships and informal settlements. Supporting entrepreneurship in these areas could have a meaningful impact in communities that need it most.

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    The unemployment rate among South African youth aged 15-24 is 64%, far higher than the national average of 34.5%, showing they are the most disadvantaged in the labor market. While historically disadvantaged communities lack resources and education, developing the informal sector provides opportunities for young entrepreneurs as over half of the unemployed population lives in townships and informal settlements. Supporting entrepreneurship in these areas could have a meaningful impact in communities that need it most.

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    6 views1 page

    Untitled

    Uploaded by

    Pununu Brian
    The unemployment rate among South African youth aged 15-24 is 64%, far higher than the national average of 34.5%, showing they are the most disadvantaged in the labor market. While historically disadvantaged communities lack resources and education, developing the informal sector provides opportunities for young entrepreneurs as over half of the unemployed population lives in townships and informal settlements. Supporting entrepreneurship in these areas could have a meaningful impact in communities that need it most.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Reducing youth unemployment

    South African youth are the most disadvantaged in the labour market. The latest Quarterly Labour Force Survey
    released by Statistics South African showed that the unemployment rate was 64% for those aged 15 and 24. It stood
    at 42.1% for those aged 25 between 34. In comparison, the national rate stands at 34.5%.

    Building the informal sector


    Young entrepreneurs working in the informal sector outnumber those in the formal sector. While historically
    disadvantaged communities often lack access to resources and education, their informal sectors offer an opportunity
    for young businesspeople to make a lasting difference. More than half of South Africa’s unemployed population live
    among the 22 million South Africans whose homes are in townships and informal settlements. This means that
    entrepreneurial activity that impacts these areas is likely to have some of the most meaningful impacts, in areas that
    need it most.

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