SA’s formal sector, the biggest employer in the country, is losing jobs and its prospects look gloomy.With the economy forecast to grow by 0.4% in 2016 and improve to just 1% in 2017, job creation is likely to be scarce.The formal sector employed 9.2m people in the second quarter of the year, 67,000 less than in the first quarter, according to the Statistics SA (Stats SA) Quarterly Employment Statistics report, which surveys employers.Most job losses in the April to June period were in the community services, manufacturing, transport, trade, finance and mining sectors. The construction sector added jobs.The jobs situation in SA is dire, says statistician-general Pali Lehohla. The 30,000 jobs created by the formal sector year on year, or between June 2015 and June 2016, were simply not enough to absorb the large number of people entering the labour market, he says.The jobs outlook remains discouraging, says ETM Analytics economist Manisha Morar. Meaningful reforms need to be implemen...
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