Saftu calls for overhaul of economy

South Africa’s official unemployment rate declined to 23.3-percent between April and June this year. Courtesy #DStv403

JOHANNESBURG - The South African Federation of Trade Unions is calling for a total overhaul of the economy.

General Secretary, Zwelinzima Vavi said he believes Stats SA is contradicting itself following the release of the quarter two unemployment figures.

READ: SA's unemployment rate declines to 23.3%

Statistician-General, Risenga Maluleke explained the unemployment rate monitors people who are actively searching for a job, which was reduced by lockdown restrictions.

"The expanded definition, which includes those discouraged and those having other reasons for not searching (e.g. lockdown), increased by 2,3-percentage points to 42,0-percent," Maluleke tweeted.

Officially, 4.3-million people are unemployed.

Cosatu's spokesperson, Sizwe Pamla said retail business owners will soon feel the impact of the economic downturn and warned more employees will face retrenchment.