Decline in private sector cost unemployment rate



A major reason why the Free State province has the highest unemployment rate of 34% in the country is the employment decline in the mining and agricultural sectors.

This is according to MEC of Treasury Elzabe Rockman. She says the unemployment matter creates a significant concern and should be balanced. Rockman was speaking at the budget adjustment delivery this morning at the legislature in Bloemfontein.

She says the public sector cannot operate alone and needs the private industry to boost economic growth, investment and job creation. Rockman says although tertiary institutions dominate by 67% of the provincial economy, the economic growth rate will not increase if primary and secondary sectors don’t contribute significantly.

“If we don’t do this then our economic growth rate is not going to increase and will not be able to address and reverse the continued increase in unemployment rate. The rest of the country unemployment seems to be decreasing although slightly while the Free State is still going in the opposite direction,” says Rockman.