South Africa’s main issue stemming from weak economic growth, unemployment, was emphasised in the latest employment data.
Various industries shed more jobs again in the first quarter of the year as expected, seen that there has not been much growth in the economy.
Total employment decreased by 67 000 or -0.6% compared to the previous quarter, from 10 731 000 in December 2023 to 10 664 000 in March 2024.
Total employment also decreased by 74 000 or -0,7% between March 2023 and March 2024.
According to Statistics SA, which announced the results of the Quarterly Employment Statistics for the first quarter on Tuesday, the quarterly decrease in jobs was due to decreases in:
- trade where 57 000 jobs were lost
- community services that shed 18 000 jobs
- business services where 4 000 jobs were lost and
- mining that shed 3 000 jobs.
The electricity industry showed no change and on the positive side, jobs were added in manufacturing (12 000), transport (2 000) and construction (1 000).
This is a developing story.
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