Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Manuel laments high jobless, poverty rates

Jun 09 2011 15:20 I-Net Bridge

Related Articles

More jobs, but not for low-skilled

Cosatu punts short-term jobs

Gordhan unveils jobs fund details

SA unemployment rates among highest

Jobs SA's most urgent need: survey

Casual work spurs jobs growth

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print

Cape Town - There are too few South Africans employed and the quality of education for most black people remains poor, said National Planning Minister Trevor Manuel on Thursday.

At a media briefing ahead of delivering his budget vote speech in parliament, Manuel introduced his National Planning Commission's first report entitled Diagnostic Overview.

In its introduction the report admits: "The economy has failed to create jobs at the pace necessary to reduce extremely high unemployment, and the education system has failed to ensure that equalised public spending on schooling translates into improved education for poor black people."

South Africa's education budget rose by 9.7% to R189.5bn for the 2011/12 fiscal year, with the basic education allocation going up by 10.6% to R145.5bn and tertiary education by 6.8% to R26bn.

The unemployment rate was at 25% for the first quarter of this year, according to Statistics South Africa.

The planning commission has a budget this year of R63bn and an expected lifespan of five years. All the commissioners are part-time.

Seven  major challenges are presented in the Diagnostic Overview. These are: poor infrastructure; spatial challenges that marginalise the poor; the dependence of South Africa's growth path on resources; the ailing public healthcare system; corruption; and that South Africa remained a divided society.

The commission plans to hold a round of consultative workshops with various sectors of society, business, labour and the government to determine what values the country should have, Manuel said.

This, Manuel said, would include the use of social media such as Twitter and FaceBook.

A major focus of the commission would be on the formation of South Africa as a development state, but the commissioners said that they had not yet defined this term due to its wide usage in various sectors.

Manuel said that since the commission's establishment it had held 36 meetings, of which 10 had been plenaries. It had also collected or generated 254 reports, of which 150 would become available on its website once it is operational. 

 
 
Comment on this story
24 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

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

Loading...