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Thread: Labour strikes at a 10 year high.

  1. #1
    Site Caretaker Dave A's Avatar
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    Labour strikes at a 10 year high.

    Labour is restless at the moment:
    The number of strikes in South African industry had reached a 10-year high and analysts warned still more strikes were imminent, the Reserve Bank said on Thursday.

    South Africa's largest labor federation, The Congress of South African Trade Unions, has held its annual convention this week and is looking for ways to exert more influence on the nation's economic policy.

    The bank said in its report on Thursday that the number of working days lost from strikes rose from about 700 000 in the first half of 2005 to 1,6-million in the first half of 2006, the highest figure in 10 years.

    "Unions are flexing their muscle and we can expect it to last," said Steven Friedman, a senior researcher with the Centre for Policy Studies in Johannesburg.

    "It is a sign of economic growth. Although there is labour surplus, the labour market has tightened; profit margins are up and workers think they can get a better deal," he said.
    Full story from M&G here
    Now I've got a question - If labour believes pay increases should be in line with increased profits, will they take a pay decrease when profits are down?
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    Platinum Member Marq's Avatar
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    Sure they will - its called retrenchment.

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