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The Solidarity-ETM Labour Market Index (LMI) for the fourth quarter of 2016 was released on Monday. The LMI is a measure of job and wage security in the SA labour market where 50,0 is the break-even level of rising and falling security.
From a downwardly revised 42,2 in the third quarter of 2016, the index rose marginally to 43,4 in the fourth quarter of 2016, but remained well below 50,0 indicating persistent job and wage insecurity, weak wage growth and retrenchments in some sectors. According to Gerhard van Onselen, economics researcher at the Solidarity Research Institute, the business cycle indicators in the index improved in the fourth quarter of 2016. But Solidarity’s survey among members showed this was not yet enough to meaningfully improve employee confidence, or to improve labour affordability. The Solidarity-ETM Labour Market Index forms part of the quarterly Solidarity Labour Market Report (LMR).
- Read Solidarity’s press release in this regard at Solidarity online
- Download the full Index and Report here
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