Posts tagged with 'Jobs'

 

Poor economic conditions in SA cause job losses

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With the latest announcement from Telkom regarding the retrenchment of nearly 3,000 employees, the mining industry has also warned that they will be following the same route.

Glencore and Merafe are also retrenching due to the poor economy and the extremely expensive electricity.

Unconfirmed reports indicate that about 1,000 jobs have been compromised, of which 660 are at the Rustenburg plant.

The announcement makes the list of larger institutions starting retrenchments longer, and financial experts say it is the beginning of an ever-growing list, which could cause an alarmingly high unemployment rate.

The retrenchments are directly linked to the decline in business due to the poor economic situation in which South Africa finds itself, and the poor power supply is also directly linked to the situation.

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Matric class of 2019 will struggle to find jobs – SA Youth unemployment rate rose to 58.2 percent in the third quarter of 2019

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South Africa’s matric class of 2019 has achieved impressive results, but may struggle to find work as the country faces constrained employment in 2020. John Botha, chief operation officer at Global Business Solutions, said that this is highlighted by the country’s current growth level. Using a labour elasticity formula he noted that for each 1%..
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SAA strike costing R52 million a day and with a bankruptcy record it could mean the end of the entity

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More than 3000 workers affiliated with Numsa and Sacca downed tools at SAA on Friday over a wage dispute and plans to cut more than 900 jobs, costing the airline about R52 million a day.

The interim chief financial officer of SAA Deon Fredericks, said the strike was pushing the struggling airline to unsustainable levels. “If this strike continues, we are running the risk of putting SAA out of business,” Fredericks said.

Even though they are working with Mango Airlines to accommodate as many customers travelling on domestic services as possible and refunding passengers their flights or travel with other airlines.

SAA is facing a crippling onslaught by the National Union of Metalworkers of SA (Numsa) and the South African Cabin Crew Association (Sacca). The national air-carrier is threatening the unions with legal action if they fail to retract comments that the safety of passengers cannot be guaranteed.

Over the weekend, Numsa said any
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Unemployment rates rise to 27.6% and remain one of SA’s biggest challenges

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Statistics South Africa announces that unemployment rose by 0.5 percentage points to 27.6% in the first quarter of this year. The figures confirm economists’ presumption that economic growth in the first quarter was negative and unemployment remains one of SA’s biggest challenges.

The SA economy started on a bitter note this year with unemployment rising to 27.6% after being 27.1% in the fourth quarter of 2018. The number of people employed is significantly less than a year ago and declined by 86,000 people to less than 16.3 million people.

By contrast, the number of unemployed increased by 3.7% to 6.3 million and the number of discouraged job seekers by 7.5% to nearly 3 million. This means that nearly 9.2 million South Africans of working age are not in school, do not study further and are not voluntarily unemployed. The figures come from Statistics SA’s quarterly employment survey (QLFS) for the first quarter of 2019, but growth fig
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