U.S. News

S.African business, trade unions aim to save jobs


South African businesses and unions are calling for tighter currency control.

South Africa, hit by the global recession, lost 900,000 jobs last year, according to the government. Some argue the strong rand hurts exports, which hurts jobs.

Zwelinzima Vavi, secretary-general of the country's main trade union federation, complained that "we leave the currency to go up and down on its own."

Vavi, other union leaders and officials from leading businesses in a press briefing Monday also called on the government to buy goods locally and reduce interest rates.