Since 2016, the labour market in South Africa has been in decline. Post apartheid, two decades after the recovery of the economy, it has slowed down significantly with the GDP per capita growing at a yearly average of 0.56%. Although poverty has remained inactive, the social welfare system has reduced inequalities in accessible public services and housing. South Africa’s unemployment rate remains increasing at 25% since 2016. In order to repair the economic growth and development of South Africa, the country needs to be responsible for generating job opportunities and approach the trends in the structure of the workforce. (Helsinki, 2016)
Due to the demographical change of the landscape of the country, it has yet to reap the benefit of employment for your workers. When working in a public sector it will put your wage at 20.7% higher than unionized private workers. (Helsinki, 2016)
Millions of South Africans find employment opportunities in jewelry manufacturing, retail, mining, cutting, sorting, polishing and valuation. These jobs provide a better quality of life through income, healthcare options and education. The industry indirectly employs thousands, expanding the communities where diamonds are found and offering new opportunities to the people of those communities. (Helsinki, 2016)
