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EFF: EFF on job losses in the first quarter of 2017

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EFF: EFF on job losses in the first quarter of 2017

28th June 2017

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The EFF notes the 2017 first quarter employment statistics released by Statistics South Africa today.

The report shows that South Africa lost 48 000 jobs in the first quarter of 2017 quarter on quarter, from 9 692 000 million jobs in December 2016 to 9 644 000. The jobs losses are mainly due to the decrease in the trade, business services, community services, manufacturing and transport. Trade and Business Services suffered the most job losses, with job losses of 32 000 and 23 000 respectively.

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The economic crisis as it is clearly illustrated by first quarter employment statistics and gross domestic products reports must have the whole country extremely worried. In addition to extreme levels of high unemployment, the report shows that more and more people are loosing an opportunity to put food on the table, roof over their heads and therefore reduced to poverty, in squalors and living on empty stomachs.

The crisis of job losses as reflected on Statistic South Africa report does not come as a surprise given the South Africa economy has been languishing for a long time and now officially in recession. The ANC’s collective and individuals are directly responsible for failing to provide decisive and sound leadership.

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Instead the governing party is occupied with factional battles, squabbles and a captured president who has delegated all constitutional decision making powers to the Gupta family. There is no effort to enhance and harness economic growth to stimulate job opportunities. Government is hindered and all efforts are directed towards looting.

In addition to the looting of state resources, there is also the ideological and policy confusion that compound economic growth, which result in this crisis of job losses. Because of neoliberal policies that prioritise maximum profits at all cost, when the economy deteriorates, companies prioritise payment of profits over jobs.

Job cuts tend to be the first area for reducing companies cost because the capitalist system is not interested in any developmental or societal interest but there is profit at all cost regardless of society suffering. And this is illustrated by job losses suffered the most by trade and business services in an economy dominated by the financial sector.

It is now beyond reasonable doubt that under Zuma administration, South Africa is going to slide further to unimaginable economic calamities. Beyond the recession, junk status and job loss crisis, Mr. Zuma will collapse of all form of governance, rule of law and state institutions to continue to loot billions of state funds and avoid facing his corruption, money laundering and fraud charges.  

The EFF calls on all South Africans to stand and fight this mafia and criminal syndicate led by a foreign family to project our future prospect of a stable society in order to implement socialist policies.

 

Issued by EFF

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