Lost Generation Research Report

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The Lost Generation and the effects on the economy of South Africa by NA Potgieter A research proposal submitted in partial fulfilment of the requirements for the Bachelor of Business Administration Economics 1B Module Milpark Education 2012 The Lost Generation and the effects on the economy of South Africa by NICOLE AMELIA POTGIETER A research report submitted in partial fulfilment of the requirements for the Bachelor of Business Administration Economics 1B Module at Milpark Education JOHANNESBURG August 2014 Declaration I declare that this research report, The Lost Generation and the effects on the economy of South Africa, is my own work and that each source of information used has been acknowledged by means of…show more content…
Unemployment occurs when people have lost their employment or simply finds themselves in the job market but do not have work, for various reasons, or are actively seeking work. The unemployment rate can be defined as the measure of frequency of unemployment in a specific area. It is calculated by dividing the total number of unemployed people by the total number of all the people in the labour force, expressed as a percentage. During periods of recession, a country’s economy usually experiences a relatively high unemployment rate. There are basically 6 types of unemployment that can be defined as: 1. Voluntary unemployment: can be defined as the number of people in an economy without employment, because they choose to be unemployed. 2. Involuntary unemployment: can be defined as the number of employees in an economy being retrenched or fired from their jobs and need to find work elsewhere 3. Frictional unemployment: can be defined as unemployment that occurs in the job market, because it takes employees some time to move from one occupation to another. 4. Seasonal unemployment: can be defined as being unemployed for only a part of each…show more content…
Kirk, D. 1 December 2010. Twenty Third Floor: Causes of unemployment in South Africa. [Online]. Available: http://twentythirdfloor.co.za/2010/12/01/causes-of-unemployment-in-south-africa/. [29 July 2014]. They are: 1. Poor education levels in terms of quality of education. 2. A breakdown of the internship system which was responsible for enhancing skills. 3. The introduction of minimum wages into the market that now prevents employers from employing employees at an acceptable wage that both parties would be prepared to work for and to pay. 4. Overly protective Labour Laws in favour of employees that make it less attractive for employers to hire new employees. Furthermore he has found additional challenges that employees entering the job market will face. Since the youth of today find themselves entering this market, these are the employment problems that they face, over and above skills, training, education, etc. 1. Public transport poses a huge problem for the youth as the minimum wages that potential employees will consider is often too high for employers, due to the significant costs of

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