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President to receive Jobs Summit report

Presidency spokesperson Khusela Diko said this was very important as it took place in the context of a depressed economy and soon after Stats SA announced an increase in the unemployment rate.

FILE: President Cyril Ramaphosa addresses delegates at the 2018 Jobs Summit on 5 October 2018. Picture: @PresidencyZA/Twitter

JOHANNESBURG - As pressure mounts on President Cyril Ramaphosa to urgently respond to the latest shocking unemployment figures, the Presidency says he will receive a report on Thursday on progress made in the implementation of the resolutions from last year’s Jobs Summit.

The two-day presidential summit brought together government, business and labour in a quest to find solutions to the unemployment crisis.

Stats SA this week revealed the official unemployment rate is now 29% - the highest in more than a decade. That means 6.8 million South Africans are unemployed.

When last year’s Jobs Summit concluded, government, labour and business leaders described the gathering as a success.

Commitments made by the social partners included a R100 billion injection by the financial sector to support small black businesses, government’s assurance not to retrench workers in the public sector and the commitment by all social partners to buy local.

The president even announced an ambitious plan to reduce unemployment to 6% by 2030.

Presidency spokesperson Khusela Diko said the president would receive an update on the progress regarding the implementation of the commitments.

“This is very important as it takes place in the context of a depressed economy and soon after Stats SA has announced an increase in the unemployment rate in South Africa.”

The president was confident after the summit that the agreements signed would go a long way in addressing the high levels of unemployment and grow the economy.

He will find out today if those commitments are bearing any fruit.