http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.49Change: -0.02
R/$ = 11.88Change: 0.20
Au 1214.08 $/ozChange: 19.92
Pt 1149.50 $/ozChange: 15.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 25, 2012

Gordhan forecasts 780 000 new jobs

Back
Africa|Sustainable|Africa|South Africa|Pravin Gordhan
Africa|Sustainable|Africa||
africa-company|sustainable|africa|south-africa|pravin-gordhan



Finance Minister Pravin Gordhan on Thursday estimated that the economy would create 780 000 new jobs over the next three years.

The modest forecast, in his Medium-Term Budget Policy Statement, came with a warning that slower growth and rising wage demands were likely to hamper new hiring.

"Rising wage demands across the economy could put pressure on new hiring. The economy is projected to create 780 000 jobs over the next three years."

Gordhan said employment gains had declined in line with growth over the past year, and high levels of structural unemployment was making labour market entry more difficult for young and unskilled job-seekers.

In the past 12 months, 125 000 jobs were created, of which 38 000 were in the public sector.

Gordhan pointed out that the private sector accounted for more than 75% of jobs in South Africa.

"Creating a buoyant private sector that works in partnership with an effective government will help South Africa to achieve faster growth and sustainable job creation," he said.

The minister said nominal wage settlements in the first nine months of 2012 were down to 7.4%, from 7.7% in 2011.

Real wage growth has however slowed to 1.8% in the first half of the year, compared to 2.7% last year.

In 2010, government set the target of creating five-million jobs by 2020, but so far employment gains have lagged far behind the rate of half a million new jobs a year needed to achieve it.

Edited by: Sapa
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Economy News
Updated 2 hours 25 minutes ago South Africa’s credit rating is at risk of being downgraded if government fails to pay the debt taken on to fund infrastructure programmes, such as the upgrading of Gauteng’s major highways, National Treasury deputy director-general for tax and financial sector...
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
QUALITY EDUCATIONThe School of Concrete Technology providing on site training in Dullstroom
The Southern African Readymix Association (Sarma) has warned cement and concrete industry stakeholders that some unaccredited organisations are running cement and concrete training and courses, disseminating unvetted information that could be harmful to the industry....
More
 
 
Latest News
Updated 31 minutes ago South Africa’s crude steel production dropped by a sizeable 17.2% year-on-year to an estimated 530 000 t in April, amplifying a global trend that saw world steel production decline by a comparatively marginal 1.7% to 135-million tons in the fourth month of the year....
Updated 47 minutes ago The Treasure the Karoo Action Group (TKAG) on Friday called on government to delay publishing final regulations and issuing rights for shale gas exploration in the Karoo, until a 24-month strategic environmental assessment (SEA) has been concluded. TKAG CEO Jonathan...
Updated 1 hour 44 minutes ago Strengthening its position in the European extrusion coatings market, international packaging and paper group Mondi has inked a deal with technical laminates and protective packaging company Walki Oy for the acquisition of two extrusion coatings plants in...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
FREDRIK JEJDLING Sustainability becomes an important part of a business’ decision-making process
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96