The president said a lot more work was needed to address the impact of the crisis on the poor and low-paid workers.
"I am confident that some of the measures already introduced and others in the pipeline will help to cushion the impact of the crisis for the most vulnerable."
He said South Africans needed to work together to meet the challenges of the current economic situation.
SHOOT: Wonder what he is referring to when he says "measures already introduced and others in the pipeline". If I had to thumb suck I couldn't think of any, and I wonder if he can? A suggestion to get the poor and unemployed working is to get them involved in rural farming.
More on this: Mr. Zuma if you really, really, really want to create jobs, here's what you should do
South Korea has greenhouses used for careful and intensive cultivation. We can do the same - build these porto-greenhouses right beside the large squatter camps, and grow things organically under the right conditions.
In his state of the nation address earlier this year, Zuma said the country would generate around 500 00 jobs by the end of the year.
"Even if the economy begins to grow again next year, we will have to wait a little longer for a significant increase in new job creation," Zuma told black professionals at the Sandton Convention Centre.
"It always takes some time, even years after growth starts, for jobs to be created in significant numbers," he said.