South Africa: People breed too fast: 33% official unemployment! – 6,000 more people to be fired from their jobs – My comments
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[There are many issues here, but the most important is that people breed faster than the economy can grow. This also indirectly indicates that people are not actually adding value to the economy, or that the structure of our “Liberal Globalist” economy does not work this way.These are topics worth coming back to. But even below it seems that the person population is growing by 2% per annum and the moment our economy grows by less than that, then the people become, per capita poorer!
This is the beauty about person nations. They are NOT PRODUCTIVE. They consume more than they produce.
But there are lots of unemployed People also now. This is the first time that I've heard them officially acknowledging that 1/3 of the labour force is unemployed.
Several millions of these are also people fired by people!! The people are too expensive, and now even foreign companies can't afford them. Its beautiful. We're heading for nasty times and it is going to shock people. But, as I say, WORSE IS BETTER. Jan]
Less than a month into 2020, South African companies have already announced thousands of job cuts. In a country where a third of the labor force is already unemployed, this will put even more strain on demand and economic growth.
Almost 6,000 jobs are at risk as companies including Telkom SA SOC Ltd, the country’s largest fixed-line operator, and Walmart Inc’s local unit Massmart Holdings Ltd plan to reduce their headcount after slumps in earnings.
That’s after Sibanye Gold Ltd cut positions at its Marikana operations as part of restructuring plans and Glencore Plc issued a notice of possible reductions at its Rustenburg ferrochrome smelter.
If realized, these job losses will add to an unemployment rate that is the highest in at least 11 years, and place a further damper on demand and consumption spending in an economy stuck in the longest downward cycle since World War II.
Growth in household expenditure, which makes up 60% of economic activity, slowed to 0.2% in the third quarter despite a reduction in the benchmark interest rate.
“Labor market dynamics – job growth, income growth — are the most important drivers of consumption expenditure and I worry that if we see more of these kinds of announcements it could further depress household consumption expenditure,” said Miyelani Maluleke, a senior economist at Absa Bank Ltd.
An economic blueprint that President Cyril Ramaphosa co-authored a decade ago aims to reduce joblessness to as little as 6% by 2030, but the government’s actions are not helping. In addition to a lack of urgency in implementing policies that’ll boost growth and convince businesses to invest and expand, the state and its companies are also reducing workers.
Finance Minister Tito Mboweni has made it clear the state wage bill has to be trimmed, and that means a government that employs fewer people. Despite opposition from labor unions, the restructuring of power utility Eskom Holdings SOC Ltd, which has billions of dollars of debt and a bloated workforce, will lead to job cuts when it eventually happens.
The national carrier, South African Airways, is in bankruptcy protection and started canceling flights on Tuesday to save cash, a step that could usher in a reduction in staff.
insufficient economic growth. Since 2015, population growth has outpaced growth in gross domestic product every year.
That means the economy “doesn’t even begin to scratch the surface of what is required in terms of jobs for new entrants in the labor market,” Maluleke said.
“As a result I think you’re going to see the (un)employment rate grow.” (sic)
South Africa’s economy hasn’t expanded by more than 2% a year since 2013 and neither the central bank nor the National Treasury see it reaching that level by 2022.
The economy needs sustained GDP growth of 2.5% to 3% to stabilize and to reduce the unemployment rate, Maluleke said.
Pic: AWESOME MEME: 1934 Machine Guns When Society was responsible Gun Laws
People have never been babies. We do many dangerous things without even thinking about it. In 1934, even a child could order a machinegun by mail order. There were zero school shootings back then.
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This is the amazing story of how Liberals in S.Africa guided People and helped People to plan a MASSIVE ETHNIC CONFLICT to SLAUGHTER the People of S.Africa. This was almost like a 911. The Afrikaners caught the Liberals and the People red-handed. I will turn this into an audio book as well. It‘s a stunning story that is very much hidden and forgotten.
Video: IMPORTANT: Liberals Kill: Key Witness in Liberal Billionaire Paedophile Case DIES!
Do you remember the high level Liberal paedophile in the UK, Lord Janner, who had sex with over 20 boys in the houses of parliament?
