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Call Us:-011 403 2313
Call Us:-011 403 2313
Tuesday, 12 November 2024.
The Economic Freedom Fighters (EFF) notes the recently released third Quarterly Labour Force Survey (QLFS) for 2024. The reported increase of 294,000 employed persons, bringing the total employed to 16.9 million, is insignificant in the context of South Africa’s persistent economic stagnation. This modest rise fails to address the fundamental economic challenges faced by millions of South Africans, especially Black African women and young people, who continue to bear the brunt of government failures and systemic inequality.
The report reveals a decrease in the number of unemployed persons, lowering the official unemployment rate by 1.4 percentage points to 32.1%. However, this shift is deceptive and does not signify real economic growth or improvement in the quality of employment opportunities. A closer examination reveals that these employment changes are largely driven by precarious and informal sector jobs, as well as part-time government employment schemes, rather than sustainable, full-time positions in the formal private sector.
Discouraged work-seekers have increased by 160,000, showing the growing despair among South Africans who have given up on finding jobs. Additionally, the number of economically inactive persons rose by 214,000, bringing the total of those not economically active to 16.5 million. This stark increase highlights the deepening disillusionment and economic exclusion under the current government, which has utterly failed to stimulate meaningful economic activity and job creation.
Our young people continue to face dire prospects, with 3.5 million (34%) of youth aged 15-24 not in employment, education, or training. Black Africans face an unemployment 2
rate of 36.1%, higher than the national average, with almost 39% of Black African women out of work. The fact that graduate unemployment increased slightly to 9.8% is a clear indication that even higher education offers no guarantee of economic security under the current regime. Those without formal qualifications face even harsher realities, with staggeringly high jobless rates.
After the first 100 days of the DA-ANC coalition there are still no changes to our economy and no significant growth in employment. This is unsurprising as this neoliberal duo focuses on ingratiating white capital, while being unconcern with the needs of ordinary South Africans. The EFF has consistently stated that the government needs to focus on re-industrialisation on order for the economy to grow and for the government to be able to provide jobs for the people.
However, in a climate where privatisation is the order of the day, from South African Post Office to government buildings, to the continued deliberate sabotage and collapse of Eskom, and the withdrawal of the SABC Bill in order to prioritise private broadcasters, it is clear that there is no hope for any economic growth under this coalition.
ISSUED BY THE ECONOMIC FREEDOM FIGHTERS
Leigh-Ann Mathys (National Spokesperson) 082 304 7572
Thato Lebyane (Media Enquiries) 078 304 7572