QLFS: ANC has run out of ideas on growth and jobs
31 May 2022
Please find attached a soundbite by Dr Michael Cardo MP.
Despite marginal improvements in the unemployment rate on the back of imperfect data (the official unemployment rate now sits at 34.5% and the expanded rate at 45.5% ) the latest Quarterly Labour Force Survey (QLFS) underscores the need for fresh economic thinking.
We are confronted with a pandemic of joblessness. But instead of mitigating the national disaster with workable solutions, the ANC is recycling the same tired old ideas ahead of its Policy Conference in July.
The ruling party’s discussion documents reveal a dearth of innovative economic proposals. Meanwhile President Cyril Ramaphosa still clings to the fallacy that Black Economic Empowerment (BEE) is a ‘must for growth’.