Floyd Shivambu on SA unemployment rate: ANC ‘should be removed from power’

Image credit: Twitter/Economic Freedom Fighters

The African National Congress (ANC) should be removed from power and a “progressive” Economic Freedom Fighters (EFF) government should take over.

This is according to EFF Deputy President Floyd Shivambu, who was reacting to news on Tuesday that South Africa’s unemployment rate is now at its highest in 11 years.

Writing on Twitter, Shivambu said, “The ANC Government doesn’t know what should be done with the high levels of unemployment and the crisis is just deepening.”

He added, “They should be removed from power and a progressive government of the EFF should take over to lead massive industrialisation to create millions of jobs.”

SA unemployment rate now at 29.1%

Statistics South Africa released the latest Quarterly Labour Force Survey in Pretoria on Tuesday.

The Survey found that SA’s unemployment rate rose by 0.1 of a percentage point to 29.1% in the 3rd quarter of 2019 compared to the 2nd quarter of 2019.

Statistician-General Risenga Maluleke said this is the highest rate since the first quarter of 2008.

He added that the number of employed people rose by 62,000, bringing the total to 16.4 million.

However, the number of unemployed people increased by 78,000, bringing the total to 6.7 million in quarter 3 of 2019.

Medium Term Budget Policy Statement

The latest unemployment figures put into sharp focus the Medium Term Budget Policy Statement, which Finance Minister Tito Mboweni will deliver in Parliament on Wednesday.

Among other key issues, analysts expect greater detail from Mboweni on how government plans to restructure growing debt by state power utility Eskom.

The minister may also highlight how revenue collection might fall below expectations this financial year, adding further strain to government finances.

South Africa will also be on edge as Moody’s credit ratings agency prepares to release its latest assessment for the country soon after Mboweni’s Statement.

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