Source: Department of Economic Development, New Growth Path. 2010 The President of the Republic declared the year 2011 as the year of job creation through meaningful economic transformation and inclusive growth.27 All government departments, at all spheres, as well as the private sector were called upon to align their programmes to job creation imperative so as to bolster the creation of work opportunities for the unemployed. A Presidential Job Summit was held in 2011. This summit provided a platform for assessment of the role the private sector could play in partnership with government in the creation of decent jobs. In addition, a Presidential Labour Summit on Job Creation was convened in 2011 in order to engage labour federations towards a partnership for job creation. At this summit, the parties agreed on a target of creating five million jobs by 2020, in line with the NGP. The above 2020 targets have a biased focus towards the youth as a sector. This is aimed at addressing youth unemployment. In the long-term, government has identified the need for a process to ensure that retirement funds contribute to boosting domestic resource mobilisation through savings and investment in developmental projects with a potential for decent work on a mass scale. The parties to the Labour Summit further committed themselves to supporting skills development, the recognition of prior learning as well as intensified efforts to accelerate employment creation. Government remains committed to effectively addressing the challenge of unemployment which at the time of reporting stood at 24.9%.28 As such, government continues to implement programmes geared towards creating job opportunities which will reduce the rate of 27 The Presidency (2011): ‘State of the Nation Address2011’, the presidency, Pretoria. As at fourth quarter of 2012 28 58