Loading...
See More

Cosatu: Jobless trends bleak

Jun 27 2011 10:33 I-Net Bridge

Related Articles

Cosatu starts war on graft

Asmal speech 're-energised' Cosatu

Cosatu welcomes R9bn jobs fund

Cosatu: Don't rescue Swaziland

Cosatu welcomes tender blacklist

Cosatu shocked by R100m pensions 'loss'

 
Johannesburg - Employment and unemployment trends continue to paint a bleak picture, Cosatu said on Monday as it released a research report at its four-day central committee meeting.

"While we were able to make some employment gains during our growth period in the 2000s, our level of unemployment has shifted back to our pre-growth levels.

"It is unlikely that employment gains will be achieved in the short run, given our declining industrial base and no significant intervention to restructure our economy."

The report added that SA's response to the global crisis was swift and significant, with all social partners "clamouring" on board to ensure the country's response was effective.

"In a very short space of time, the National Economic Development and Labour Council (Nedlac) was able to conclude the national framework agreement in response to the global crisis.

"However, when measured against other country responses to the crisis, we fared very poorly in saving little jobs, if any."

Cosatu said that about 6 000 jobs were saved through the training layoff scheme, while the Industrial Development Corporation through its intervention saved an estimated 17 000 jobs.

"Notwithstanding these important interventions, they may have come a little too slow and too late," the report said.

cosatu  |  jobs  |  unemployment
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...