Employment, Production, and Entrepreneurs

by Developed Africa 7. July 2014 09:00

With UNCTAD's Economic Development in Africa 2014, released last Thursday, employment (or rather unemployment) is a popular focus of debate.

A number of conclusions and claims have come from this report regarding employment alongside how to boost economies across the continent. But most predominantly is the question of how unemployment has managed to remain so low as economic growth is on the rise?

Essentially, the continent hasn't produced enough investment and growth in the domestic economy. Public sector investment has been low, and foreign direct investment has largely been channelled into the sectors where the big returns are- oil, gas, and minerals."

Unfortunately, as the Guardian points out, these "big return" industries do not provide large employment bases, and thus it is economic support for high-employment sectors that is greatly needed to combat the high unemployment rates.

To take a look at the full report, click here.


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