Why structural unemployment is still with us, will stay

Felicity Duncan from moneyweb wrote an article on South Africa education for Moneyweb and Discovery Invest. It talks to a topic I’ve also blogged about, but with some truly horrifying league tables.

This is the part that really disappointed me:

according to the World Economic Forum’s latest Global Competitiveness Report, which ranks South Africa 133rd out of 142 countries for the overall quality of its secondary and tertiary education systems, and 138th out of 142 countries

for the quality of its maths and science education

Felicity goes on to mention that even Chad outperforms us in education.

We can talk for as long as we want as hard as we want, but as long as we don’t recognise that our education system is completely broken and must be fixed as a priority over all other priorities, massive, structural unemployment will be part of South Africa for decades. Everything else we achieve will be overshadowed by poverty, crime and unhappiness.

This is very depressing.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.

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