07 Dec

UASA Media Release: 7 December 2021

Statement by Abigail Moyo, spokesperson of the trade union UASA:

The 1,5% gross domestic product (GDP) contraction in the third quarter (Q3) of 2021 paints an unfortunate picture of South Africa’s journey to economic recovery and job creation. The figures are proof that we are still stuck in the aftermath of the Covid-19 hard lockdowns and the looting spree we faced during the year.

According to Stats SA, who announced the contraction earlier today, the trade, catering and accommodation industry decreased by 5,5%, contributing -0,7 of a percentage point to GDP growth. Decreased economic activities were reported for the wholesale, retail, and motor trade as well as catering and accommodation services.

Expenditure on real GDP decreased by 1,6% in Q3 2021.
UASA’s main concern lies with household final consumption expenditure which decreased by 2,4% in Q3, contributing -1,6 percentage points to total growth, resulting in more pressure on low-income households as the cost of living continues to soar high.

Millions of South Africans need jobs and UASA hopes that sufficient jobs will be created in the coming year. We need a game plan and a turnaround strategy towards economic recovery and sustainability for our country.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162 .

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