21 000 jobs lost in Q1 in SA – these sectors were hardest hit
South Africa recorded 21 000 jobs lost in the first quarter of the 2023/2024 financial year, according to Statistics South Africa’s (Stats SA) Quarterly Employment Survey (QES) released on Tuesday, 27 June. READ: Three more G4S employees arrested in Thabo Bester case TRADE AND BUSINESS SERVICES SUFFER SIGNIFICANT LOSSES, CONTRIBUTING TO SOUTH AFRICA’S OVERAL EMPLOYMENT DECLINE […]
South Africa recorded 21 000 jobs lost in the first quarter of the 2023/2024 financial year, according to Statistics South Africa’s (Stats SA) Quarterly Employment Survey (QES) released on Tuesday, 27 June.
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TRADE AND BUSINESS SERVICES SUFFER SIGNIFICANT LOSSES, CONTRIBUTING TO SOUTH AFRICA’S OVERAL EMPLOYMENT DECLINE
Employment fell from 9 991 000 in December 2022 to 9 970 000 in March 2023 (-0.2%). Year-on-year, there was a reduction of 1%, with 97 000 jobs shed from March 2022 to 2023.
The trade industry and business services felt the most job losses. Community services proved to be the biggest job contributor in the quarter.
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“Gross earnings paid to employees decreased by R34,1 billion or -4,0% from R864,2 billion in December 2022 to R830,0 billion in March 2023.
“This was largely due to decreases in the following industries: trade, community services, manufacturing, construction, transport and electricity. However, there were increases in the following industries: business services and mining,” said Stats SA.
The South African Federation of Trade Unions (SAFTU) said it was not surprised by the decline in jobs because it did not view the minor increases recorded last quarter as indicative of a trend in new job creation.
“It merely reflects shorter cyclical growth that will soon be replaced by another job’s bloodbath,” said the country’s second-largest trade union federation.
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JOBS LOST:
Based on the information provided by Stats SA, here is a summary of the jobs lost and gained in Q1(2023/2024) in various industries:
- Trade: -36 000 (-1.6% quarter-on-quarter)
- Business services: -32 000 (-1.4% quarter-on-quarter)
- Transport: -2000 (-0.5% quarter-on-quarter)
- Construction: -2000 (-0.4% quarter-on-quarter)
JOBS GAINED:
- Community services: +41 000 (+1.5% quarter-on-quarter)
- Mining: +5000 (+1.1% quarter-on-quarter)
- Manufacturing: +4000 (+0.3% quarter-on-quarter)
- Electricity: +1000 (+1.8% quarter-on-quarter)