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THE formal economy lost 67,000 jobs in the second quarter — accelerating from the 15,000 jobs lost in the first quarter.Employment in the formal nonagricultural sector fell to 9,218,000 at end-June from 9,285,000 at end-March, Statistics SA said in its Quarterly Employment Statistics for the second quarter, released on Friday.SA’s high unemployment is one of the factors that have been constraining consumer spending — an important driver of economic growth.International rating agencies are keeping an eye on SA’s growth, and the steps it is taking to address the structural impediments to faster growth, as they prepare to review the country’s credit rating later this year.The biggest quarter-on-quarter declines were seen in the following sectors:• community services: down 48,000 or 1.8%;• manufacturing: down 7,000 or 0.6%;• transport: down 7,000 or 1.5%;• trade: down 4,000 or 0.2%; and• mining and quarrying: down 1,000 or 0.2%The mining and manufacturing sectors have been under sustain...

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