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06Jul2016

Nafcoc Laments Declines in Employment

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The release of the employment figures by Stats SA indicate that more than 15 000 more jobs were lost in the first quarter of 2016. According to StatsSA quarterly employment Statistics (QES) which published the employment statistics until March 2016, shows that employment declined in virtually all sectors Non-agricultural sectors.

The sector that experienced the largest decline employment is retail and trade with – 1,8% an equivalent of 17 000 jobs compared to the last quarter . The retail sector was followed by transport mining both recording declines of -1.1% and -0,9% respectively. Mining also lost more than 4000 jobs in the same period

Commenting on the employment figures Landiwe Mahlangu, Nafcoc Chief Economic Advisor remarked “these employment stats serve to indicate that the perennial problem of joblessness  is by far the biggest economic challenge in the country. It is also alarming that sectors that should have benefited from weak exchange rate like hospitality and hotels, have actually shed jobs begins to indicate that unemployment have become structural in nature”. Mahlangu added “The unrelenting decline in mining employment and manufacturing may indicate that the country is gradually de-industrializing despite efforts by government to stem this trend”

Nafcoc believes SME development and Cooperatives movement provides the most effective way to create employment and stem joblessness. In this regard, NAFCOC would like to support the calls for the holding of Jobs Summit to deal with the challenge of unemployment and joblessness in the country.

Issued by Nafcoc Economic Desk.

Inquiries: Office of Chief Economist

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