ECONOMIC WEEK AHEAD: President’s forum carries hopes for a jobs solution
Cyril Ramaphosa’s jobs summit will dominate events this week, writes Sunita Menon
All eyes will be on President Cyril Ramaphosa’s jobs summit and whether stakeholders will be able to tackle SA’s jobless crisis. The summit comes just two weeks after Ramaphosa announced an economic stimulus plan to kick-start growth in the economy. "A great deal of hope is being placed on the upcoming jobs summit and the investment conference in October," said Nedbank chief economist Dennis Dykes. As unemployment nears 30% and economic growth struggles to breach 2%, a lot is riding on the summit. For the past two years more than one in four people in the workforce has been unemployed. "Overall, SA’s labour market has failed to gain any meaningful traction over the past few years with the unemployment rate, especially for the youth, remaining exceedingly high by global standards," said Stanlib chief economist Kevin Lings.
The National Economic Development and Labour Council (Nedlac) will convene the two-day summit on Thursday and Friday, bringing together government, labour, b...
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