Despite the official unemployment rate rising to 32.1% in early 2024, Deputy Minister in the Presidency Nonceba Mhlauli emphasised the Presidential Youth Employment Initiative's (PYEI) ongoing success in unlocking earning opportunities and equipping young people with skills for long-term success.
In a media briefing in Cape Town on Thursday, Mhlauli shared a positive update on the initiative, a key project launched by President Cyril Ramaphosa in 2020 to tackle South Africa's youth unemployment crisis.
Mhlauli highlighted significant achievements from the PYEI’s third quarter (October to December 2024).
Over 53,000 new earning opportunities were created through the National Pathway Management Network (NPMN), bringing the total to 1.57 million since the initiative began.
Additionally, more than 38,000 young people gained opportunities via the SA Youth platform, while another 14,500 accessed support through Employment Services of South Africa (ESSA).
The Youth Employment Service (YES) placed over 10,300 youth in work placements across various sectors, and 14,600 entrepreneurs received support through the National Youth Development Agency (NYDA) and the Department of Small Business Development (DSBD).
"The revitalised National Youth Service (NYS) Phase 3 was successfully launched, with 13,568 new recruits, adding to a total of 82,378 youth placed in service opportunities," she said.
Unemployment has been on the rise in the country while the cost of living has skyrocketed.
The country has seen more protests over joblessness, while job initiative programmes and Imbizos have been held in a bid to come up with ways to tackle unemployment.
A key innovation to drive the PYEI’s success is the Jobs Boost Outcomes Fund, a R300 million initiative that ensures funding is only allocated to organisations based on successfully placing young people in quality, sustainable jobs.
Since its launch in November 2023, 3,347 young people have enrolled in training, with 1,603 securing jobs, and 1,247 maintaining employment for three months or more.
As Ramaphosa emphasised in his State of the Nation Address, the business community’s support remains crucial in driving the success of the Youth Employment Service, further supporting South Africa's efforts to bridge the gap between education and employment.
IOL Politics