Migrating Talent Boosts SA Job Market, Says Standard Bank CEO
News Summary
Standard Bank CEO Sim Tshabalala warns against restricting migration, citing Brexit's economic damage, and argues migrants create jobs and reduce unemployment in South Africa.
Originally reported by Sowetan.
Why It Matters
The debate over migration in South Africa often centers on job competition, but Standard Bank CEO Sim Tshabalala's remarks challenge that narrative. Drawing on Brexit's aftermath, he shows that curbing migration can shrink the economy and raise unemployment. This matters for job seekers because a healthy labor market relies on both labor supply and demand—migrants drive demand as consumers, renters, and entrepreneurs.
How Migrants Fuel Job Growth
According to Tshabalala, migrants are not just workers; they are also consumers who buy goods, use transport, pay school fees, and start businesses. This creates additional jobs for locals. For example, a migrant opening a small shop hires local staff, and increased demand for housing boosts construction jobs. Migrants also pay taxes—directly or through VAT—which funds public services and infrastructure that benefit all workers.
Lessons for Job Seekers
The key takeaway is that a dynamic economy thrives on diversity and movement. Job seekers should consider how they can contribute to a multicultural workforce and be open to learning from international colleagues. The data suggests that well-managed migration can lower unemployment, not raise it. So instead of fearing competition, focus on upskilling and adapting to a globalized job market.
Skills In Demand
From Live Job DatabaseCareer Tip
"If you're a job seeker, don't view migration as a threat. Instead, seek roles in companies with diverse teams and cross-border operations, as these often offer growth and learning opportunities. Consider highlighting any multicultural experience or language skills on your CV."
