With SA's rising unemployment, entrepreneurship must be encouraged, says expert

Data from the Quarterly Labour Force Survey released by Statistics South Africa on Tuesday revealed that the country's official unemployment rate had increased to an eye-watering 34.9%.

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CAPE TOWN - Finance and labour experts say that self-employment is becoming the fastest-growing form of work.

Data from the Quarterly Labour Force Survey released by Statistics South Africa on Tuesday revealed that the country's official unemployment rate had increased to an eye-watering 34.9%.

Professor Andre Roux, from Stellenbosch University's School of Business, said that more people should be encouraged to take up entrepreneurship.

"A lot of big businesses are in some cases becoming more automated, fourth industrial revolution, more machinery, more equipment and workers are realising 'I'd better create my own job' and for that to be successful, we also need to create and foster entrepreneurship," Roux said.

WATCH: SA's unemployment rate increased to 34.9% in the third quarter of 2021