SA unemployment figures concerning
The Reserve Bank’s Gill Marcus says high-levels of unemployment in SA’s youth is worrisome.
JOHANNESBURG - South African Reserve Bank Governor Gill Marcus said on Wednesday she is extremely concerned at the high-levels of unemployment among the country's youth.
The latest unemployment figures released this week show an increase in the number of jobless people, especially among those under the age of 35.
Marcus said it takes decades for countries to transform their economies.
She added that the structural weaknesses in the economy created by the legacy of apartheid cannot be forgotten or ignored.
"The deep structural features of apartheid in the form of poor quality education for black people and job reservation have all contributed to the situation."
Marcus said South Africa's economy has to diversify in order to grow.