Stats SAFin24 reports that employment levels declined again during the third quarter of the year, with an analyst expecting employment to remain flat going forward.  

The economy shed 31,000 jobs in the third quarter of the year, according to the Quarterly Employment Survey (QES) by Statistics SA (Stats SA).  Compared to the same period last year, this was down 0.9%, or 83,000 jobs shed.  FNB senior economic analyst Jason Muscat commented that the job shedding was greater than market expectations and that it was of concern how broad-based the shedding was.  “We maintain that the employment rate is likely to remain flat over the forecast horizon given low levels of investment, confidence and economic growth,” he indicated.  The decline was driven by job losses in the community services sector, which were down 0.4%, or 10 000 jobs shed.  Other sectors which lost jobs included manufacturing (down 0.4% - 5,000 jobs), the mining sector (down 1.9% - 9,000 jobs), electricity (down 1.6% - 1,000 jobs), trade (down 0.3% - 7,000 jobs) and business services (down 0.3% - 6,000 jobs).  There were increases in employment in the construction industry, up 4,000, and the transport industry, up 3,000.


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