Cabinet optimistic about increased employment

Thursday, November 10, 2011

Pretoria - Cabinet has noted the latest Quarterly Labour Force Survey, which indicated that there had been an increase in employment, with optimism.

Cabinet spokesperson, Jimmy Manyi, said despite the recent economic difficulties the study showed that unemployment has declined from 25.7 percent to 25 percent.

"These findings point to the fact that our economy continues to remain resilient in the face of difficult conditions facing the domestic and world economy," Manyi said, briefing the media on Thursday on Cabinet's ordinary meeting.

Cabinet has also noted the conclusion the feasibility study for the procurement, financing and maintenance of new trains by the Passenger Rail Agency of South Africa (Prasa).

"The feasibility study has found that the acquisition of the new rolling stock is an economically viable project."

Prasa told Parliament's Portfolio Committee on Transport this week that this major project would largely benefit Broad-Based Black Economic Empowerment entities and create over 65 000 jobs.

The project set to cost over R100 billion would be spread over 20 years and see local manufacturing companies involved in the manufacture of train components such as wheels and doors and brake systems.