Alec Hogg: SA’s unemployment lie

Media commentators – and as a result those who consume their ideas – were sent into a renewed funk this week by another rise in SA's official unemployment data. We are told almost half of South Africans are either unemployed or have given up looking for a job..That paints a picture of looming disaster for the rational mind. With half our countrymen outside the revenue generating net, surely it's only a matter of time before hunger and desperation gets July 2021 to be repeated in the other 11 months? So with all due haste, semigrate to the last outpost of SA civilisation in the Western Cape….___STEADY_PAYWALL___.Except this is bunk..Mark Twain warned us about lies, damn lies and statistics. He might have added another category – statistics that measure the wrong thing. Something StatsSA is guilty of right now..South Africans are the global experts at adjusting to change. Afrikaners describe it as "n Boer maak n plan" while in the darkest days of Zupta plunder, Pravin Gordhan called it our national "resilience"..That's been in evidence for some years already for those prepared to look. As ANC economic stupidity keeps bashing the formal economy, the populace moves ever faster into the informal sector..Author, entrepreneur and free thinker GG Alcock was raised in a Msinga mud hut in deep rural KZN where the only luxury was being surrounded by books. He specialises in ground level researching, understanding and sharing insights about SA's mushrooming informal sector. For inspiration, he leaves his home in Kyalami for the 'Kasi. Returning rejuvenated..Our interview yesterday was sparked by the latest official unemployment numbers. It is sure to open many eyes. Click on the pic above, or here, to open the window to a world too many of us never knew was there..Also worth investing time in today –.Arch-Woke, Canadian prime minister Justin Trudeau, has called an early election making Vaccine Mandates the Wedge Issue. His gamble already appears to be backfiring with his party's five point lead having evaporated within days.Good news for our young democracy is that after 13 years of argument, Judicial Service Commission yesterday voted 8-4 to approach Parliament to impeach Zuma-supporting Western Cape Judge President John Hlope. This is a first for the New SA.Whatever you might think about the ethics, the investment case for vaccine makers, including JSE-listed Aspen, continues to grow. J&J says a booster of its covid vaccine increases antibody levels ninefold; perfect timing as the Biden Administration is set to approve boosters to be administered six months after the previous dose. US companies are climbing aboard the bus with Delta Airlines yesterday announcing it will fine unvaccinated workers $200 a month. On the other side of the world, Chinese internet companies have launched a charm offensive to win back investor support and to lobby Beijing. The WSJ reports a resulting rebound in share prices. Sceptics may well regard this as a dead cat bounce after reading The Times of London's report of the corruption-related arrest of the Communist Party chief in the province where Alibaba is headquartered..NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com.

Alec Hogg: SA’s unemployment lie

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