An In-Depth Look at Economic Growth and Employment in Post-Apartheid South Africa: Analysis and Policy Implications
AbstractThe purpose of this study was to determine the relationship of economic growth and employment in post-apartheid South Africa and to conclude by providing an analysis of macroeconomic policies for that period. A correlational research was conducted to investigate whether the relationship exists in South Africa and also the nature of the relationship. An employment elasticity of growth model was employed to a sample size of 18 (number of years). The findings revealed that employment has, to a lesser extent, been responsive to economic growth for most of the period. Thus, employment elasticity of growth has been inelastic. This implies that a percentage change in economic growth has been accompanied by a change of less than one percentage in employment. The study found that the Accelerated Shared Growth Initiative for South Africa (ASGISA) has outperformed other policies in relation to economic growth and employment targets. It concludes that higher percentage increase in economic growth may lead to an increase in employment. The study has highlighted areas of possible job creation opportunities. On policy perspective, it concludes that the adoption of New Growth Path and National Development Plan while ASGISA is still in process will require a strong coordination and dedication of many state resources.
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