Jobs crisis worsens at a swift rate
Employment declines by 34,000 as weakened economy sheds jobs at a fast rate, says Stats SA
The South African economy continues to bleed jobs, with Statistics SA reporting on Thursday that employment had declined by 34,000 jobs in the second quarter of 2017. The second-quarter employment survey has validated fears expressed by trade unions and analysts in the first quarter that the unemployment crisis in the country would worsen. Formal non-agriculture jobs fell by 48,000 in the first quarter, courtesy of a dour performance in manufacturing, transport, trade and finance and business services. Stats SA said that while Thursday’s figures showed a gain of 13,000 jobs when compared with a similar period in 2016, the figures were unlikely to allay fears that the weakened economy was shedding jobs at a fast rate. Mining and trade were recorded as having increased by 6,000 jobs. This is despite the thousands of retrenchment notices issued by mining houses in recent months. Their affect will be felt in the third quarter, when new data are released. Second-quarter job losses were d...
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