Tag: labour market

The world is in a permanent state of change amid technology, economy, consumer and climate change demands. Although there have been remarkable leaps in automation and Artificial Intelligence (AI), company leaders will continue to need highly skilled talent to meet their business needs.

Removing the causes of mass youth unemployment in South Africa would have multiple positive consequences for job seekers. If small businesses and households, “the natural employers of young and untrained workers in an open labour market”, were free of the burden of the minimum wage and other unnecessary regulatory burdens that have been imposed on them, they could make an unprecedent contribution to the economy.

The Employment Equity Act 55 of 1998 aims to promote equal opportunity and fair treatment in employment through the elimination of unfair discrimination and the implementation of affirmative action measures. The Act requires designated employers to submit annual reports on their progress in achieving employment equity goals.

Since the dawn of the computational age, human beings have pursued the creation of machine intelligence. In fact, the question of what that Artificial Intelligence (AI) would look like and how it would impact our lives and the world around us has even been explored in our entertainment media – from the idyllic futuristic world of technological marvels in Star Trek on one end of the spectrum to the more pessimistic apocalyptic future of The Terminator on the other.

A new report, Future of Work Life – Africa Edition, examines how employees and employers in Africa navigate the current work environment and their views on the future of work shaped by the pandemic, digitalization, and the fluctuating labour market.

Since the COVID-19 pandemic the world has been affected by many events that are now the new normal and businesses will now have to make strategic changes to the way they operate. These events are geo-political - the Russia-Ukraine war; logistical - supply-chain bottlenecks; economic - high energy prices, demand supply issues - global commodities pressures and chip shortages, rising inflation and possible recession.

If you don’t believe you can change your life and your career in a year, then you haven’t tried learning a new skill in digital technology. Matriculants are eagerly awaiting their results, countless job seekers are looking to accelerate their careers and thousands of unemployed youths are desperate for new ways to upskill themselves this year, new and promising developments are being made in the tech and digital economy creating more career opportunities than ever before.

The average tenure of a Chief Security Information Officer lasts between one and two years, far less than the six years a Chief Financial Officer or eight years a Chief Executive Officer typically spends at a company. This drastic difference is even more staggering when we add new data from the Ponemon Institute, which claims that around 65 percent of security professionals think about quitting due to burnout.

Significant uncertainty, marked by rampant inflation, fears of a looming recession and growing geopolitical risk, clouds the near-term global outlook. The knee-jerk reaction is to retreat to safe assets and preserve capital until the storm has blown over.

Statistics South Africa has announced that South Africa’s unemployment rate rose to a record high 35.3% in the last quarter of year 2021. This was an increase of 0.4 percentage points from the previous quarterly unemployment rate. The expanded definition of unemployment rate is at 46.2%.