Rise in the unemployment rate represents double trouble for South Africa
10 May 2016
THE rise in the unemployment rate represents double trouble for South Africa, says the Cape Chamber of Commerce and Industry.
Firstly, having nearly six million people out of work creates a massive social problem with consequences that are difficult to predict and, secondly, it underlines the poor performance of the economy.
“This double trouble will be very difficult to overcome,” said Ms Janine Myburgh, President of the Chamber. “Business confidence is low and the government has been very slow in implementing the structural reforms the National Development Plan recommends for economic growth.”
These changes included the labour market and industrial relations reforms. “Our priority should be to remove all obstacles to job creation. The approach to business should be ‘What can we do to encourage you to employ more people?’ Instead the approach was to over regulate and prescribe to business on how it should go about running companies.