It’s going to be bad… People must protect their jobs and not resign or cause trouble.— Michael Bagraim
Labour analysts expect 2019 to be a terrible year regarding retrenchments, following the enactment of the national minimum wage on 1 January.
South Africa’s economy is growing too slowly to tackle its 27.5% unemployment rate.
There are 16.4 million unemployed South Africans, according to the Quarterly Labour Force Survey for the third quarter of 2018.
Bagraim also foresees fewer strikes in 2019 as new legislation requires a secret vote by workers when deciding whether to strike or not.
Listen to the interview in the audio below (and scroll down for quotes from it).
I kept warning them that Treasury has said we’re going to lose 750 000 jobs… Cosatu said we’re not going to lose one job… Now that it [national minimum wage] is here, they’re saying we’re going to have a jobs bloodbath…— Michael Bagraim
Small businesses in South Africa is so scared to create jobs… they’re saying they can’t get married to their staff…— Michael Bagraim
It’s a crying shame because this country is on its knees!— Michael Bagraim
We need to create 10 million small businesses in this country that will employ two or three people each. And we need to exempt them from many of the labour legislation! The Minister can do it with the flick of a pen!— Michael Bagraim
There is some good news for 2019… the minister has signed the strike legislation into power… it’ll be good for the economy and individual workers… New legislation for picketing… We won’t ever see another Marikana…— Michael Bagraim
Our mining industry is on its knees.— Michael Bagraim
It’s very unfortunate that politics gets in the way of job creation…— Michael Bagraim
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
The Minister will introduce a Bill to allow for the creation of a state-owned commercial bank, says Chantél van Zyl.
Eskom is in big trouble, but not as much as the Pacific Gas and Electric Company.
The Money Show’s Bruce Whitfield interviews Kyle Cowan, an investigative journalist at News24.
The Money Show’s Bruce Whitfield interviews Dianna Games, Chief Executive at Africa at Work.
Ray White (on The Money Show) interviews Douglas Kruger, author of “What Makes Them Great? 50 Ways to Become the Industry Leader”.
The Money Show’s Bruce Whitfield interviews NicHarry founder Nic Haralambous.
Bruce Whitfield interviews Wierzycka about the ANC’s flirtation with forcing pension funds to invest in ailing SOEs such as Eskom.
The Money Show’s Bruce Whitfield interviews "Please Call Me" inventor Nkosana Makate.
Eusebius McKaiser says there needs to be a conversation about African institutions and how they can help Zimbabwe.
Khabazela shares tweets and Facebook posts that have gone viral.
Bruce Whitfield interviews the legendary Springbok about his attitude toward money (hopes and fears, successes and failures, etc.)