The employment figures are dire, and likely to get worse, until the economy picks up
Condolences continue to pour in after the death of Econometrix director Tony Twine on Monday after a short illness.
Companies are likely to respond to rising costs, such as steep wage demands and above-inflation wage settlements, by reducing their labour force.
There are two strategies to help you cope this year: reduce debt that isn’t productive and keep your nose to the grindstone at work.
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/ 26 February 2008
South African government plans to halve poverty and unemployment by 2014 appeared increasingly at risk on Tuesday as official statistics confirmed fears of a downturn in economic growth. Figures released by Statistics South Africa showed a drop in gross domestic product growth to 5,1% last year from 5,4% in 2006.
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/ 28 January 2008
There is a mismatch in South Africa’s economy between the structural direction in which it is headed and its current skills profile, says Dr Azar Jammine, director and chief economist of Econometrix. While the economy is creating 194 000 jobs, according to formal-sector statistics, 368 000 students passed matric last year.
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/ 13 November 2007
If the South African Reserve Bank is consistent, then inflation matters have deteriorated since October and another rate hike can be expected in December, according to Dr Azar Jammine, director and chief economist of Econometrix. However, Jammine on Monday also criticised some of the thinking in this regard.
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/ 12 November 2007
There is potential for the rand to tend to be weaker due to the current-account deficit, but more than anything the currency’s fortunes will depend on the strength of the global economy, according to Dr Azar Jammine, director and chief economist of Econometrix.
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/ 18 September 2007
Escalating violent crime could reduce an already weak skills base in the country, an economic consultancy company said on Tuesday. ”Every effort should be made to contain negative influences like crime, especially since the South African economy is currently experiencing its most exciting growth phase since the 1960s,” the chief economist at Econometrix said.