A deal between the government, labour and business struck at the Jobs Summit on Thursday fell short of agreeing to a moratorium on job losses, but could see the creation of another 275,000 jobs a year. The summit took place in an environment in which the economy is contracting and shedding jobs with 9.6-million people unable to find work. The jobless crisis presents a major political risk for President Cyril Ramaphosa, who is struggling to impose his authority on the ANC and is set to face the electorate in less than a year. The framework agreement contains about 80 pages of detailed interventions — some new and others already announced or repackaged — that it is hoped will help to reboot the economy. Addressing the summit held in Midrand, Ramaphosa called for a new approach to growth and development, informed by a collective understanding of all social partners.

He announced that he would meet every three months with business and labour in a presidential committee to monitor ...

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