Share

We are at war with unemployment - expert

Johannesburg - South Africa should invest in improving workers' economic literacy to strengthen the country’s labour relations, an analyst said on Thursday.

"One of the things that is a by-product of 15 to 20 years of Cosatu’s view of the world is that employees do not believe a single word that management says," labour economist Andrew Levy told a Bureau for Economic Research conference in Johannesburg.

"They [workers] also have no understanding whatsoever that a 60% increase is not obtainable. In fact it is bad negotiation. Because you are going to have to make the biggest move down from 60% to an area where there is a reasonable view of settlement - 8 to 9%."

He said workers needed to understand the economic context within which their companies operated. This would better inform their wage demands.

"The price for not changing is that the currency will continue to slide, unemployment will continue unabated, violence will remain with us. This is the price that South Africans should not have to pay.

"We are at war with unemployment. This is the time for common sense and determination."

The National Union of Mineworkers recently announced it would seek wage increases of between 15 and 60% from mining companies.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.83
+0.3%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders