Thursday, 9 June 2011

South Africa Will Never be a Normal Country: Top Economist Predicts

Not now, not in 50 years, not 1000 years, not even until Jesus comes back.

Mike Schussler, a top man in economics (and always positive) has said as much as my headline, just in another way - It's not OK today to be Afro-pessimistic, one must couch one's true meaning in a delicate manner down South these days, but read the full article and see if I am biasing his intent.

Here are some excerpts from the article:

South Africa needs to create 10 million jobs in the next 10 years to become a normal country, economist Mike Schussler said on Thursday.

"That would mean 83,000 jobs a month," (im-fucking-possible!) he said in Johannesburg at the release of trade union UASA's 10th employment report.

Only about 350,000 new jobs had been created in South Africa over the last 11 years (need I say more?) but there had been a massive drop in those self-employed, Schussler said. In 2001 there were 2.2 million self-employed and in 2010 it was 1.1 million.

And guess where those 1 million are today mmmmm?

Read here for more depressing stats.

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