EFF STATEMENT ON THE INCREASED UNEMPLOYMENT RATE
Tuesday, 30 October 2018
The EFF notes the rise in the unemployment rates reported by Stats SA this afternoon.
The latest figures show that unemployment has risen by 0.3%, to 27.5%. More than 9.3 million people cannot find work, unemployment has increased for the third conservative quarter.
Most worrying is the inability of this country to put young people into work. Stats SA reports that unemployment rate for those aged 25-34 is 52,8%.
This is double that of those belonging in the 45-54 years category.
Stats SA also shows that the youth unemployment rate is higher than other age groups irrespective of education level. The ANC government has mostly failed the youth, a clear indication that they do not care for the future.
To this day government has not demonstrated any ability or proposed any measures/plans to deal with the growing levels of unemployment. This comes after statistics also confirming that our economy is in a technical recession.
The blame for failing to create jobs must also be placed squarely in the hands of the ANC and White Monopoly Capital. The South African economy suffers precisely because majority of the sectors are centralised in the few hands of heartless and unpatriotic white dominated monopolies.
For over 24 years the ANC has coordinated macroeconomic policies that place the markets, led by white monopoly capital, at the forefront of creating growth and jobs.
This neoliberal thinking has failed and continues to fail to this day.
The EFF will table a Jobs Protection Act and establishment of a Jobs Protection Fund, which will make sure that Employers exhaust all options before resorting to retrenchments. We have done this to try and brace those who are already employed from further job loss.
It is only state-led industrial development policies that will lead to job creation. The continued dependence of the ANC on White Monopoly Capital will never give South Africa a breakthrough out of poverty and unemployment. White monopoly capital has failed dismally to create jobs and therefore a state-led industrial development is the only solution.
Statement issued by the Economic Freedom Fighters, 30 October 2018
