Employment and Labour Minister Nomakhosazana Meth has expressed optimism that the strengthened partnership between government and business will significantly boost economic growth and pave the way for increased job creation.
In a statement on Thursday, Meth acknowledged the Quarterly Labour Force Survey (QLFS) report for the second quarter of 2024 that was released by Statistics South Africa (Stats SA) earlier this week.
She noted that while the official unemployment rate has increased from 32,9% in quarter one to 33,5% in quarter two, the number of employed persons in quarter two:2020 during the COVID inception was 14,1 million and 16.7 million in the second quarter of 2024, showing an increase in the labour force.
Additionally, the Minister said a decrease in the unemployment rate recorded in Limpopo, Free State and the Eastern Cape is encouraging and commendable under the circumstances.
‘Whilst government has continued to put in place interventions like addressing load shedding, resolving transport a
nd logistics challenges, the economy is not growing as expected. Some of the key contributions to this sluggish economic growth are that South Africa is not insulated from the global economic pressures and geo-politics.
‘Henceforth, the scale at which the partnership between government and business is to be elevated, there is much hope that we will see a turn on economic growth yielding to job creation,’ Meth said.
Meth considers her department as central in intensifying the coordination of contributions that are to yield the results needed to address and arrest the stubborn nature of unemployment.
As such, the Unemployment Insurance Fund (UIF) is contributing to the Presidential Youth Employment Initiative which will conclude the next intake of the one million young people as school assistants in over 23 000 schools across South Africa.
In the 2023/2024 financial year, the department has played a crucial role in job preservation saving 14 887 jobs as part of the Commission for Conciliation, Mediation
and Arbitration (CCMA) dispute resolution mechanisms.
Furthermore, through another of the department’s entity, Productivity South Africa’s business turnaround and recovery programme, 71 enterprises were assisted resulting in 5 390 jobs being saved.
As Minister Meth continues with her first 100 days in office, her plan of action to refine and repurpose the strategic thrust of the department in ensuring that the employment mandate is sharpened and delivers tangible results, remains high.
The Minister was appointed in June.
The department and its entities continue to preserve jobs through the signing of the funding agreement between the UIF and Productivity SA projected to benefit 226 companies with a target to save 11 300 jobs in the next three years.
‘Aligned to the three priorities of the 7th administration, my department, in fulfilling its mandate needs a collective approach and refined coordinated efforts that are vigorous to turnaround the status quo, particularly, youth unemployment,’ Meth said.
Source : South African Government News Agency