Today's Labour News

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robdaviesBusinessLive reports that by government projections, in two years’ time the South African economy will create 825,000 direct and indirect jobs annually.  

Trade and industry minister Rob Davies indicated that the estimates were based on interventions devised by labour, business and government in the agreement at the Jobs Summit last week.  President Cyril Ramaphosa also announced that the impact of the sectoral interventions for job creation and economic enablers for sector growth would lead to 275,000 direct new jobs in addition to the targeted 300,000 a year.  The summit announced more than 70 interventions focused on local procurement, industrial finance and growth of SA exports in a bid to create jobs.  In a presentation on sectoral interventions creating employment at the summit, Davies stated:  "Based on a very conservative multiplier of two indirect jobs for every one direct job, we calculate that 550,000 indirect jobs will be created".  He explained that estimates were based on the number of jobs that would be created by each intervention contained in the agreement.  But Davies conceded that these numbers were still below that of new entrants to the labour market, which is why unemployment remained stubborn.  

  • Read this report by Theto Mahlakoana in full at BusinessLive


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