Today's Labour News

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employment thumb100 BusinessLive writes that the significant decline in the number of employed South Africans is set to influence proceedings at next week’s jobs summit significantly.  

The number of employed people fell by 69,000 in the second quarter, data from Stats SA on Wednesday showed.  President Cyril Ramaphosa called for the jobs summit to look at what was needed to grow the economy and make it more productive.  Announcing his economic stimulus plan last week, Ramaphosa said there would be a reprioritisation of spending towards investments in agriculture and rural economies, which analysts said could reduce unemployment.  Many summits about creating jobs have failed so far, noted Ann Bernstein of the Centre for Development and Enterprise.  "SA’s approach to employment has failed because too many of the country’s policies raise the cost of doing business and reduce the economic growth rate," she opined.  Finance minister Nhlanhla Nene has warned that in order to make a dent in the unemployment rate, growth in SA should reach 5%.  While business is confident that the jobs summit will be a positive step, labour movements have been wary.  "Both [the] government and business are showing disdain in discussing far-reaching macro-economic, industrial, trade and social policies that can take the country away from the current crisis we are confronted with," Nehawu’s Zola Saphetha stated.


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