Tag: mass unemployment
Politics and power – focus on South African trade unions COSATU,...
Gargantuan and tyrannical unions like the Congress of South African Trade Unions (COSATU), South African Democratic Teachers Union (SADTU), and National Union of Metalworkers of South Africa (NUMSA) have leveraged their power, numbers, money, and capacity to threaten violence, and in so doing hold the economy hostage.
SA ranks 99th out of 165 jurisdictions in economic freedom
South Africa ranks 99th out of 165 countries and territories included in the Economic Freedom of the World - 2022 Annual Report, we have released in conjunction with Canada’s Fraser Institute. It can be noted that in 2000, South Africa ranked 47th on the list of countries analysed.
Does the Minister of Labour and Employment mean what he said?
We have been consistent in saying that labour laws and the National Minimum Wage (NMW) are not benefitting the unemployed. In fact, they do the exact opposite. Parliament, as the institution that makes the laws, is failing the unemployed as it is the responsible body that brings out laws and regulations that cause an increase in unemployment.
Skills development: good for business, and good for SA youth
Learnerships are the key to optimising employability. Unemployment is a massive challenge that has been exacerbated by the COVID-19 crisis. Predictions are that 35% of South Africans won’t have jobs by December. This only accounts for people who are actively looking for jobs. The number of unemployed who’ve given up looking for work is much higher.
Mboweni’s national budget shows folly of a command economy
In his Adjustment Budget Speech Minister of Finance Tito Mboweni told us what we already knew. Debt is up and we need to borrow even more, spending will increase, government revenue will be less than expected, the deficit will increase, the economy is expected to contract, and unemployment is higher than usual.
Treasury’s Special Budget is up against significant challenges
On Wednesday, 24 June, Minister Mboweni will table a Special Adjustment Budget. This is an extraordinary event, precipitated by the effect of the COVID-19 outbreak that has caused so many deaths and ravaged great parts of the economy.
How to develop a personal culture of entrepreneurship
It is no secret that entrepreneurship and business creation is the lifeblood of economic growth and innovation. Research out of the United States by the Kauffman Foundation, for example, underscored that entrepreneurship is integral to job creation and economic progress.
COVID-19 brings into sharp relief the risks faced by gig workers
South Africa’s current national state of disaster, and the uncertainty that has gripped the world, will especially impact the most vulnerable groups in our society. That includes those in casual or insecure employment who face two possibilities in the reality of social distancing: loss of income, or ongoing exposure to the virus through the front-line nature of their work.
