South Africa economic update 2015

Taking advantage of its growing working-age population could help accelerate South Africa’s growth to 5.4 percent a year and double per capita incomes by 2030, according to the South Africa Economic Update released by the World Bank. The report explores how the projected growth can be attained by creating a virtuous circle of job intensive growth, improved productivity, higher savings and better education attainment particularly for the youth who will drive the growth in the working age population in the coming decades. The seventh edition of the South Africa Economic Update dedicates its special focus section to the issue of Jobs and South Africa’s Changing Demographics. It offers an analysis on the complex challenges posed by changing demographics and its implications for jobs and labor markets. The report finds that South Africa is undergoing a profound demographic shift in which the share of its working-age population between 15 and 64 years has expanded substantially and will continue to grow for another five decades.

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