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It determined the figures after conducting an impact assessment of the proposed changes to the Basic Conditions of Employment Act and the Labour Relations Act.
According to Busa the amendments would affect two major areas.
"Firstly, they will damage the prospects of small
business.
Secondly, they will take a heavy toll of those most vulnerable and marginalised in the labour market - young people and recent entrants to the labour market, women, Africans, and those with lower levels of education."
The organisation submitted its views to the parliamentary portfolio committee on labour on Wednesday.
It said Parliament needed to conduct its own assessment of the changes.
On Tuesday, the SA Chamber of Commerce and Industry told the portfolio committee the amendments would not create jobs. It said labour regulations should promote job creation and economic growth.
"Unfortunately, some of the proposed amendments... do exactly the opposite, by imposing further costs on business [that wish] to employ workers."
