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Engineering News reports that the Solidarity-ETM Labour Market Index (LMI) improved to 42.5 index points in the third quarter, up from the downwardly revised 41.9 in the second quarter.
But the trade union cautioned against premature talk of “green shoots” of recovery in the SA economy, saying the slight rise in the LMI was of little significance, given that the index still remained well below the neutral 50-point mark and below even the depressed levels of 2015. The overall LMI still paints a bleak picture for labour. Meanwhile, the Employee Confidence Index (ECI), a subcomponent of the LMI, improved from 40.8 in the second quarter to 43.1 in the third quarter. “Only 11% of the participants in Solidarity’s quarterly survey of members reported they felt more secure in their jobs compared to three months before. Nearly two-thirds of respondents reported no change in job security, whereas the remainder of respondents, 25%, reported they felt less secure,” Solidarity Research Institute economics researcher Gerhard van Onselen indicated.
- Read this report in full at Engineering News
- Read Solidarity’s press statement and download the full LMI report at Solidarity online
Get other news reports at the SA Labour News home page