Today's Labour News

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cosatuANA reports that Cosatu said on Monday that Finance Minister Tito Mboweni needed to present a clear plan on how the government would "pull the economy from the doldrums" and create a new labour-intensive growth path.  

A statement from the labour federation said that, while Mboweni was only in his second week on the job, "there will be no honeymoon for him" as it expected the former Reserve Bank governor to table a medium-term budget policy statement (MTBPS) on Wednesday which would address the unemployment crisis currently facing the country.  "We don’t have the luxury of time because workers are tired and battered from 36 percent unemployment and the ongoing retrenchments across most sectors of the economy," the federation said.  It added:  “It is essential that we urgently adopt a completely new growth path to transform our economy into one based on labour-intensive industry and one that meets the basic needs of our people."  Cosatu warned SA was at risk of experiencing a collapse in the social order as a result of rampant unemployment.  It also took aim at Mboweni for his recent comments that power utility Eskom was bloated and needed to shed 30,000 jobs, saying that that was “nothing but a blatant act of provocation and Cosatu will not allow that to happen.”

  • Read this report in full at eNCA
  • Read Cosatu’s press statement at Cosatu News

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