China’s job creation, a lesson for Namibia

By Uaueza Kanguatjivi (in China)

NAMIBIA can learn from China’s impressive 2023 job creation efforts. The country created over 12 million new jobs despite facing hurdles from the effects of the COVID-19 pandemic.

According to Trading Economics, China’s unemployment rate increased marginally in January 2024 to 5.20 per cent, up from 5.10 per cent in December 2023.

China’s unemployment rate has averaged 4.74 per cent over the years, with a high of 6.20 per cent in February 2020 and a low of 3.90 per cent in September 2002.

In sharp contrast, Namibia’s unemployment rate is forecasted to be substantially higher, at 20.70 per cent, by the end of 2024.  According to the World Food Programme (WFP) figures, as of May 19, 2023, Namibia’s unemployment rate stood at 34 percent, with youth unemployment at 48 percent.

Namibia’s youth unemployment rate improved somewhat in 2022, reaching 39.78 per cent, a 0.37 per cent decrease from 2021. The rate in 2021 was 40.15 per cent, a 0.86 per cent reduction from the rate in 2020 (41.01 per cent). 2019 saw a substantial growth of 38.16 per cent over 2018, which was 37.99 per cent.

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