The Congress of South African Trade Unions (COSATU) welcomes the slight drop in unemployment with the last quarter producing an additional 130 000 badly needed jobs and overall unemployment falling by 0.3% taking the total number of workers to 17.1 million for the first time. 

Over the course of 2024, an additional 355 000 jobs have been created, with positive growth in the financial and manufacturing sectors and overall unemployment falling by 1.3%. 

We are concerned by the loss of 11 000 agricultural jobs and fear the possible imposition of steep tariff duties on South African exports to the United States may threaten further job losses in this key economic sector.

Whilst we appreciate every single new job, we cannot celebrate a tremendously high unemployment rate of 41.6% and youth unemployment of 70%.  These are our single greatest challenges and a ticking time bomb that threatens the very fabric of society.

More must been done to capacitate the state so it is able to provide the public and municipal services the economy depends upon, to inject stimulus by accelerating the infrastructure roll out as well as tapping into more financial support for SMMEs, industrial and export opportunities, and ramping up public employment programmes to provide a pathway to employment for the 12 million unemployed. 

We dare not continue to do is to normalise such painfully high levels of unemployment, poverty and inequality, nor starve the state and the economy of the resources needed to stimulate growth or cut public employment programmes.

Issued by COSATU

Zanele Sabela (National Spokesperson)

Mobile: 079 287 5788

Email: zaneles@cosatu.org.za