PHUTI MOSOMANE
The Congress of South African Trade Unions (Cosatu) says the latest report from Stats SA on South Africa’s employment levels is yet another depressing wake up call for the government and the private sector that we cannot continue as is and somehow expect miracles or things to change for the better.
Stats SA’s latest employment report shows that total employment for the first quarter of 2023 decreased by 21 000 with significant job losses of 36 000 in trade and industry and 32 000 in business services.
This marks another increase in the overall unemployment rate by 0.02%.
Full time employment shrunk by 63 000 whilst part time employment increased by 42 000.
Total earnings by workers decreased by R34.1 billion or 4%.
Cosatu says these are alarming signs of stagnation for an economy with a total unemployment rate of 42.4% and a meek 0.4% GDP growth rate
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