COSATU dismayed by latest drop in employment
25 June 2024
The Congress of South African Trade Unions (COSATU) notes with disappointment the 0.6% decline in formal employment in the first quarter of 2024.
According to Statistics SA’s latest jobs report, jobs in the non-agricultural sector decreased by 67 000 in the first quarter of 2024 to 10.7 million when compared to the last quarter of 2023.
The Federation is deeply concerned about the shockingly high unemployment rate in the country at 41.9% and 59.7% for youth aged between 15 and 24.
We call on the incoming government of national unity (GNU) to hit the ground running and stimulate the economy by abandoning austerity measures that have led to its stagnation in recent years. Support for and investments at state-owned entities Eskom, Transnet and Metro must be intensified to jumpstart the economy. We are encouraged by the progress that has been made so far but more urgency will result in better outcomes.