Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

employment thumb100 BusinessLive writes that SA’s inability to absorb its growing labour force has resulted in the worsening of the unemployment rate, with the expanded rate rising to its worst level in a decade.  

The unemployment rate rose to 27.5% in the third quarter from 27.2% in the previous quarter this year, while expanded unemployment, which includes people who have stopped seeking work, rose to 37.3%.  Elize Kruger of NKC African Economics noted that the unemployment remained high by historical and global standards.  She commented that it was increasingly clear that the South African economy was unable to absorb all new entrants to the job market and added that the stubbornly high rate elevated the importance of recent government-led initiatives to “focus the attention of all stakeholders on policies to foster economic growth that would lead to more job creation”.  Isaac Matshego, an economist at Nedbank, said the drop in employment, both on a quarterly and an annual basis, could be a reflection of financial pressures faced by private households.  “We are going to see a continued effect of higher fuel prices, in particular; the pressure on household incomes is going to remain elevated and that could mean further job cuts in the fourth quarter of this year,” he warned.

  • Read this report by Asha Speckman in full at BusinessLive
  • Read too an editorial that Jobs crisis needs action yesterday, at BusinessLive

Get other news reports at the SA Labour News home page