Today's Labour News

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ManufacturingCircleeNCA reports that the manufacturing sector says it remains a job-creating engine in the economy, with the Manufacturing Circle to launch its Map to a Million plan soon, which will outline a plan to create one-million direct jobs over a 10-year period.  

During his recent medium-term budget speech, Finance Minister Malusi Gigaba said manufacturing was vital, as it formed the basis of a modern economy.  The latest monthly purchasing managers’ index (PMI) came in slightly better than expected, but it still showed that the manufacturing sector was contracting and provided little incentive for growth.  Unemployment figures from Stats SA showed that manufacturing shed 50,000 jobs in the third quarter.  Insiders say the sector has the ability to ensure long-term, sustainable growth that will reindustrialise the economy.  However structural barriers must be removed.  "We don’t have adequate aggregate domestic demand in SA.  This can be augmented we think by import substitution.  We import too many products,” said Andre De Ruyter Manufacturing Circle Chairman.

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