[ad_1]
President Cyril Ramaphosa says South Africans must work together to ensure a rapid rebound in employment following the release of the latest employment figures.
“Now is the time for all South Africans to come together and grow South Africa,” he said.
Statistics South Africa released the Quarterly Workforce Survey (QLFS) on Tuesday, which revealed that 2.2 million people lost their jobs in the second quarter of 2020.
“Our success in responding to this unprecedented crisis will be measured by the speed of our job market’s recovery.
“In addition to the relief measures that we have already implemented, we must ensure that all jobs lost during the crisis are replaced and that more jobs are created so that we can significantly reduce unemployment,” the president said.
Following broad agreement between the social partners in the National Council for Economic Development and Labor (Nedlac) on the key actions necessary for economic recovery, the Cabinet is finalizing a program for the return to growth and the recovery of employment.
Structural reforms, investment in infrastructure and other measures to grow the economy, the president said, will play a crucial role in supporting the recovery of the labor market in the medium term.
As the labor market recovers, the government will continue to expand its programs aimed at keeping people at work and sustaining their livelihoods.
“The implementation of the Presidential Incentive for Employment will soon begin to rapidly expand public and social employment and support the protection of employment in vulnerable sectors.
“The government’s historic economic and social aid package has been vital in protecting businesses, workers, and homes from the worst effects of the pandemic,” the president said.
To cushion the blow, the Unemployment Insurance Fund has provided more than R43 billion in temporary aid to more than four million workers, preventing further job losses and keeping many businesses alive.
Additional social protection has been provided to more than 16 million South Africans, more than a quarter of the population, to expand support during the closure and alleviate hunger.
Most countries have experienced both a sharp rise in unemployment and an increase in economic inactivity as a result of the measures needed to contain the pandemic.
In the case of South Africa, this decline highlights a declining labor force participation rate and adds to an unacceptably high level of unemployment before the pandemic.
Read: 2.2 million South Africans lost their jobs under the blockade
[ad_2]
