A Just Transition From Climate Change and Unemployment

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A Socialist Project e-bulletin .... No. 1512 .... November 14, 2017
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A Just Transition From Climate Change and Unemployment

Joseph Mathunjwa

The global economy is facing numerous structural challenges. With the looming fourth economic revolution characterized by even more technological development and mechanization, the future of productive labour is bleak. Most unskilled and semi-skilled workers are likely to lose their jobs. Even some skilled workers are not spared from this emerging catastrophe, as numerous job categories – such as brick-layers – are increasingly becoming redundant.

This points to the urgent need for planning, for conscious investment in job-rich, growth opportunities that enable economies to build productive capacity in labour intensive sectors. One way of achieving this is to strengthen wage led growth, which, in turn, stimulates aggregate demand through enlarged household incomes. Without a dramatic... increase in the wages of mine workers, farm workers and all employed people in our country, we will never be able to deal with South Africa’s most urgent problems: inequality, mass unemployment and poverty.

Since unemployment is the greatest determinant of poverty and income inequality, we can expect these, too, to worsen. Already, in 2015, 30.4 million people, that is, 55.5 per cent of the population live on less than R441 per month, or less than R15 per day. The fact that 10% of South Africa’s population earn around 60% of all income, points to South Africa’s widening inequality. Even more alarming is that the richest 10% of the population own at least 90–95% of all assets.

With these terrible statistics in mind, it becomes redundant to repeat what we have been saying as a trade union for a long time, namely, South Africa urgently requires the redistribution of wealth.

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