Bleak future for unemployed S.Africans
The World Bank paints a gloomy picture for those seeking jobs in South Africa.
JOHANNESBURG - The probability of unemployed South Africans finding jobs fell substantially since 2008, the World Bank announced on Tuesday.
Unemployed people had a 25 percent chance of finding a job, compared to 15 percent in 2012, the bank said.
South Africa's growth forecast was also slashed to just 2,5 percent.
World Bank Economist Sandeep Mahajan said the chances of holding onto a jobs stayed the same.
He believes South Africans need to watch the European economy closely.
"If we were to have a full blown euro zone economic crisis, we are essentially looking at stagnant growth or a recession in South Africa."
The European Union is South Africa's biggest trade partner.
Mahajan added education appears to be far less important than the circumstances into which people are born, when it comes to inequality of opportunities in South Africa.