Fri, March 21, 2025
Thu, March 20, 2025
Wed, March 19, 2025
Tue, March 18, 2025
Mon, March 17, 2025
Sun, March 16, 2025
Sat, March 15, 2025
Fri, March 14, 2025
Thu, March 13, 2025
Wed, March 12, 2025
Tue, March 11, 2025
Mon, March 10, 2025
Sun, March 9, 2025
Sat, March 8, 2025

Warning over jobs bloodbath in South Africa

  Copy link into your clipboard //automotive-transportation.news-articles.net/co .. warning-over-jobs-bloodbath-in-south-africa.html
  Print publication without navigation Published in Automotive and Transportation on by BusinessTech
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Parliament's Select Committee on Trade, Industry and Cooperation has warned that the imminent shutdown of Arcelor Mittal's (AMSA) long steel production plants will impact far more than the 3,500 announced.
The article from BusinessTech discusses a dire warning from the South African Reserve Bank (SARB) regarding potential massive job losses in South Africa. The SARB has forecasted that the country could see up to 1.5 million job losses due to a combination of factors including a global economic downturn, ongoing electricity supply issues, and logistical constraints. These challenges are expected to severely impact the economy, with sectors like mining, manufacturing, and agriculture being particularly hard-hit. The SARB's Monetary Policy Committee (MPC) highlighted that the persistent load shedding and inefficiencies in logistics are not only hampering economic growth but also exacerbating unemployment, which is already at critical levels. The article also mentions that the government and private sector are urged to collaborate on solutions to mitigate these impacts, focusing on improving energy security and transport infrastructure to prevent what could become a "jobs bloodbath."

Read the Full BusinessTech Article at:
[ https://businesstech.co.za/news/business/816038/warning-over-jobs-bloodbath-in-south-africa/ ]