Today's Labour News

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sriEngineering News reports that trade union Solidarity on Monday released its Labour Market Index (LMI) for the fourth quarter of 2017 (Q4 2017).  The LMI, which forms part of the SA Labour Market Report compiled in collaboration with ETM Macro Advisors, is an indicator of job and wage security in the SA labour market.  

At a neutral level just below 50, the index for Q4 2017 indicated that both positive and negative forces were impacting on the SA labour market.  It was based on data compiled before the major political events – the appointment of Cyril Ramaphosa as President, a Cabinet reshuffle and the controversial Parliamentary motion on land expropriation without compensation – of the first quarter of this year.  According to Solidarity Research Institute’s senior economics researcher Gerhard van Onselen, the Q4 2017 results should be interpreted with caution.  He noted that the index for the first quarter of this year will take into account recent political developments and may give a better reading on how political trends are impacting on job and wage security, as well as business confidence.  Van Onselen added that while business cycle conditions stood somewhat firmer in the fourth quarter of last year compared with 2016, lifted mostly by an offshore driven recovery, improved commodity prices and a stronger rand, recent business cycle scores still indicated tough business conditions.

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