ECONOMIC WEEK AHEAD: Public sector jobs a key trend to watch in data
MORE job losses are on the cards, factory gate prices will rise, private sector credit numbers will remain subdued and the country should brace for a less impressive trade surplus if economists’ gloomy forecasts for the week ahead are correct.Statistics SA’s (Stats SA’s) Quarterly Employment Statistics survey comes out on Tuesday, when it is expected to confirm weak labour market dynamics following the loss of 15,000 jobs in the formal economy in the first quarter."Subdued economic activity and depressed business confidence are likely to continue restricting private sector employment growth," said Investec economist Kamilla Kaplan. "Indeed, survey evidence drawn from the retail and manufacturing confidence surveys signals poor employment prospects," she added.Statistician-General Pali Lehohla said in the first quarter the "bleeding of jobs" was consistent with the deep economic contraction recorded in the mining and manufacturing sectors at the time.Job losses, were in fact, relativ...
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