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This description almost mirrors that of the South African government. The data shows that 63% of youth … The legislative environment does not lend itself to cooperatives either. Until the mid-1970's South Africa, much like other Sub-Saharan African countries, experienced labour shortages. The number of people in with little or no skills is also very high because of the historically low investments in education and persistent challenges to education. Development Indicators. The rate of women, especially African women, coming into the labor market has sharply risen. The current status is not creating jobs nor changing the countries situation. This issue is not simple, especially in regard to land reform and the complications that go with the property rights and distributing land to its rightful owners. The most prominent reason given by employers for the low youth employment rate is that with schooling not accurately indicating skill levels, unskilled inexperienced workers are seen as risky to employ, therefore increasing their real cost. In the latest report from the Presidency's Monitoring and Evaluation Department (DPME) notes that when the democratic government took office it inherited a legacy of poverty and an unequitable distribution of income. Thousand Thousand Thousand Thousand Thousand Thousand Thousand For purposes of this paper, we will only consider the debate as it relates to the youth wage subsidy. In particular, young people need better access to capital if they are to create ventures that have the ability to generate employment not only for themselves but others too. The graph below extracted from the World Bank's World Development Indicators confirms this. At an income level, just over half of the country's total national income is attributed to the richest 10% of households. Isolation from the origin of opportunities is how location-related market failure is manifested. According to economists, unemployment arises when the supply of labour exceeds the demand for labour. Further, business development institutions such as the Umsobomvu Youth Fund and others exclude cooperatives from their funding ambit. The employment deficit amongst young people creates risk patterns that go beyond the unemployed individual but have a broader impact on the society too. What is clear is that for a youth wage subsidy to be effective, careful consideration must be given to policy design and implementation. South Africa is no different from evidence obtained from the United States, France, Sri Lanka and more recently Egypt that all suggest that youth unemployment can lead to increased crimes rates, incarceration, and political upheaval. “Unemployment increases progressively with decreased education levels; and the education system is not producing the skills for the labor market.”  Until 1994, numerous market distortions were caused by the industry policies of the Apartheid government, with these effects still remaining today. The intention is to enable recipients to buy training on the open market. Youth unemployment is not a neglected area of concern in South Africa. Burns et al (2010) captures the benefits of a youth wage subsidies in three simple arguments. In South Africa, cooperatives are not featured in the school curricula and therefore young people are often unaware of this option. This differentiation is useful to the extent that it does allow for some comparison along international benchmarks. This does not declare null and void the opportunity for a well-run organisation of this nature to be considered. Unfortunately, the UYF has become a defunct organisation due to the high degree of corruption and maladministration. The obvious solution to reducing youth unemployment in South Africa would be to invest in the youth. Leveraging economies of scale for such initiatives is crucial if a real dent in youth unemployment is to be made. Registered Data Controller No: Z1821391. The International Labour Organisation (2006) reinforces the need to review labour legislation in South Africa. According to the ILO (2006) it estimated that cooperatives account for up to 100 million jobs world-wide. Labour market failure arises from poor information about the type of work available to young people and the related wage returns associated with such opportunities. Privacy policy | Website terms of use | XML sitemap, South Africa’s Triple Challenge Of Unemployment, Poverty And, Inequality, http://www.essay.uk.com/free-essays/economics/south-africa-triple-challenge.php. The number of manufacturing plants in Penang has increase from 31 in 1970 to 743 by 1997. The issue of employment creation is a hotly contested one in South African politics. The inability of the labour force to absorb new entrants in addition to the graduate unemployment problem work together to create a scenario where unemployment is closely correlated to age. 8.3 The Extended Public Works Programme This combination could redress credit market failure. Easier access to credit is but one solution to create youth-owned enterprises. 7.7 The psyche of unemployment youth and discouraged job seekers It can be concluded from this report and other supporting literature that the greatest variable that can positively influence the future employment prospects of young people is keeping them in school (Godfrey, 2003; McCarthy, 2008; Bhorat, 2001). 8.1 Enterprise Finance for Youth Entrepreneurship The essay aims to discuss the three main reasons of unemployment in South Africa. “Policy that ensures their survival and expansion, as well as the creation of many more new firms, would have the most impact on unemployment.” (CDE). In the South African economy, low levels of education, the lack of job creation and insufficient social protection means that many youth are also under-employed, engaged in low-income self-employment, informal jobs or unpaid work. It has an abundance of mineral resources, accounting for a significant proportion of world production. As a point of departure on this note it is important to note that to decisively reduce inequality and lift more people out of poverty; more people need to work. FLISP targets an income range of R3 501 to R15 000 per month supporting qualifying families with a once-off down payment provided that they have secured mortgage finance to acquire a residential property for the first time (DPME, 2014).

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