Business | Johannesburg
Govt. slow in response to recession - COSATU
Stephen Grootes | 2009/11/25 02:19:10 PM

COSATU said on Wednesday government was too slow in responding to the recession.

The trade federation warned more jobs would be lost this year despite Tuesday’s figures showing the recession was technically over.

 

COSATU’s General Secretary Zwelinzima Vavi said GDP figures did not mean anything to those who had lost their jobs.

 

“We have lost 959 000 jobs in nine months. This 0.9 percent growth will not cancel that,” he said.

 

He said the federation’s Central Executive Committee knew part of the reason for the length of the economic slowdown.

 

“The CEC further noted that government has been slow in responding to the recession,” he remarked.

 

Vavi wants a wholesale change to economic policy.

 

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