4.2 Unemployment

Question 1

define employment and its types

Answer 1

Employment: A state of having paid work.

Formal employment: Traditional occupation within the labour market.

Informal employment: Alternative employment outside the labour market, such as street vendors or domestic workers.

Unemployed person: Someone who is economically active, wishes to work, but cannot find employment. This includes discouraged workers who have stopped seeking employment due to inability to find any.

Question 2

Effects and Impact of Unemployment? (main topics and shit)

Answer 2

General Consequences , Psychological Impact, Levels of Effect (individual and societal) , Differential Experience, Crime

Question 3

Interventions for Curbing Unemployment

Answer 3

only way to overcome unemployment is to either secure employment or create it.

This involves a two-step process: first, coping with the state of unemployment, and second, engaging in job application behaviors or job creation.

Government Policies

The government is urged to fulfill its constitutional role of providing infrastructure and fostering a socioeconomic and political environment conducive to labour market growth.

• Build infrastructure (roads, services, schools, etc.)
• Create an environment that helps businesses grow
• Support policies that allow the labour market to thrive (i.e. make it easier to hire, start companies, and train workers)

The ‘Presidential Employment Stimulus Programme (PESP)’ is mentioned as an example of a government initiative—a three-month injection with projects intended to conclude by March 31, 2021. The average wage subsidy was R16,600 over three months, focusing on job creation and specific projects. Applications for this ran from November 2020 to January 2021.

PESP Progress
Phases 1 & 2 of PESP achieved 857,833 jobs created, livelihoods supported, or jobs retained, against a target of 1,251,042 (representing 69% of the total target).
The program reported that 85% of beneficiaries were youth and 63% were female.
The total budget was R23.5 billion (R12.6 billion for Phase 1 and R10.9 billion for Phase 2).
Specifically, 673,514 jobs were created, 143,920 livelihoods were supported, and 40,399 jobs were retained.

Readiness for Employment
Learning institutions have faced criticism for not adequately preparing students and graduates for the world of work.
The slide suggests a need for collaboration between employers and learning institutions.
It also highlights the importance of providing valuable social networks to help individuals navigate the labour market.