Why should we invest more in the education?

WHY SHOULD WE INVEST MORE IN THE EDUCATION OF OUR NATION? YOUTH CRISIS: UP TO 63.1% REMAIN JOBLESS IN SOUTH AFRICA Source: BizNews Total working population in South Africa Official unemployment rate: 2015* 16,092,000.00 25 36 10 20 30 40 19,707,000.00 | Standard def. of unemployment IExpanded def. of unemployment Source: Stats SA I 15-34 years old 34-64 years old BY SOME ESTIMATES, LESS THAN HALF THE WORKING- AGE POPULATION IS EMPLOYED Source: Stats SA THE UNEMPLOYMENT RATE AMONG YOUTHS IS E MORE THAN TWICE THAT OF ADULTS Source: McKinsey on Society Youth unemployment rate 2015 70 60 50 40 30 20 10 Source: Stats SA 2015 Source: BizNews Official stats |Other estimates* Source: Stats SA Distribution of the working-age population among youth (15–34) by education level AAA Primary and lower (8%) Secondary incomplete (40%) I Secondary complete (37%) Tertiary (15%) Source: Stats SA AS MANY AS 55 PERCENT OF YOUNG PEOPLE, WHO ARE UNEMPLOYED, HAVE EDUCATION LEVELS BELOW MATRIC Source: Stats SA BUT, STUDIES INDICATE THAT ANY POST-SCHOOL QUALIFICATION INCREASES ONE'S JOB PROSPECTS Centre for Development and Enterprise "THE POPULAR VIEW THAT THE POSSESSION OF A UNIVERSITY DEGREE NO LONGER GUARANTEES SUCCESS IN THE JOB MARKET IS SIMPLY NOT TRUE" CDE CENTRE FOR DEVELOPMENT AND ENTERPRISE "In order to be considered unemployed based on the official Stats SA definition, three criteria must be met simultaneously: a person must be completely without work, currently available to work, and taking active steps to find work. The expanded definition excludes the requirement to have taken steps to find work. NOT ENOUGH JOBS POOR EDUCATION LEVELS Large population of employable youths entering the workforce by 2030 South Africa was ranked last on the quality of its Mathematics and Science education by the WEF in 2015 Potential low GDP growth (e.g 0.5% - 2%) will not create enough new jobs by 2030 1 3 6 1) Singapore 2) Finland 3) Belgium 8888 143) South Africa Source: World Economic Forum YOUTH UNEMPLOYMENT RATE BY 2030? Studies indicate that education is not the biggest bottleneck to youth employment but it is a major one LETS EXAMINE THE HYPOTHETICAL EXAMPLE OF THANDI PROVIDED BY THE NATIONAL PLANNING COMMISSION NATIONAL DEVELOPMENT PLAN 2030 of a group of children who entered school together in' South Africa in 1999 She is one Source: McKinsey on Sociey: National Planning Commission 2 54% 25% Of that group of children, only 54 % made it to the last year of formal schooling Of those who took the exam to graduate, only 25 % scored well enough to go on to higher education 3 4% And of those few, any who were young, black, and female, as Thandi is, and who had gone to a predominantly black school, had only a 4 % chance of going to university No tertiary education Even if Thandi were among that 4 %, the odds of her having the money to go to university would be slim 25 % The chances of Thandi getting any work in the first 5 years after she leaves school are only 25 % 2 % Thandi's chances of her earning the median wage per month are less than 2% For her whole working life, Thandi will be unlikely to earn above the minimum wage level Source: National Planing Commission THAT IS WHY SHOULD WE INVEST MORE IN THE EDUCATION OF OUR NATION Designed by CHAPTER 2 www.chapter2.co.za powered by Piktochart I-I make information beautiful