ADCORP released its monthly employment index this morning. The results are terrible, with another 31 000 jobs lost in the month of June. ADCORP now estimates that 82 520 jobs have been lost in the last two months.
This is disastrous. Government’s economic policies clearly are not working.
The DA believes there are five things we need to do to promote economic growth and job creation:
Implement the youth wage subsidy without delay.
Improve education so that people have the skills to find jobs or start businesses.
Promote entrepreneurship, especially amongst the youth.
Government must provide efficient and effective infrastructure to promote economic growth and investment.
Taxes must be lowered in key areas to put more money in people’s pockets.
Government is doing the exact opposite. There is a lack of political will to implement the youth wage subsidy, the Department of Education is failing to provide textbooks to learners across the country, government continues to strangle small businesses with burdensome regulations, infrastructure development is slow and expensive and indirect taxation is constantly increasing, with additional increases in the cost of electricity, e-tolling and significant increases in municipals rates on the cards.
There can be no doubt that the ANC’s policies, and internal ANC politicking, are primarily to blame for these job losses.
Every time ANC leaders debate the nationalisation of mines, investment is cut and jobs are killed. Every time government ministers oppose foreign investment, as with the Walmart-Massmart merger, jobs are killed. Every time government introduces new and burdensome regulations, like with the Labour Relations Amendment Bill and Basic Conditions of Employment Amendment Bill, the cost of business increases and jobs are killed.
So, whilst other developing countries like Turkey, Nigeria, Brazil and India are opening themselves up for business and inviting jobs and foreign investment with open arms, our government is closing South Africa for business and killing jobs.
ADCORP’s statistics are indicating what the results of these policy decisions are. The time has come for a change of course. Government absolutely has to prioritise the creation of jobs for unemployed South Africans. That is ultimately the only way South Africans will be able to lift themselves from poverty.