SAFTU Demands Reversal of Austerity Measures Ahead of Budget Speech as Unemployment Rate Stays at 41.9%.

By: Bright Ntuli

The South African Federation of Trade Unions (SAFTU) has stated that the current government of national unity continues to champion neoliberal economic policies that actively undermine job creation. This comes as the expanded unemployment rate for the fourth quarter of 2024 remained stagnant at 41.9%.

SAFTU spokesperson Newton Masuku emphasised that, ahead of Finance Minister Enoch Godongwana’s budget speech today, the union federation is demanding an immediate reversal of austerity measures and the adoption of a bold, worker-centred economic programme.

Masuku pointed out that the persistent unemployment crisis, which affects millions of South Africans, requires urgent intervention from the government, stressing the need for policies that prioritise job creation, equitable growth, and the welfare of the working class.

He further argued that austerity measures, which have been a hallmark of recent economic policies, only exacerbate social inequalities and contribute to the stagnation of the labour market.

Listen to the full bulletin below;