BL Premium reports that formal employment plunged in the first quarter, reflecting SA’s inability to create sufficient employment opportunities to absorb new entrants into the labour market and the government’s inability to drive employment-stimulating policies.

Stats SA’s Quarterly Employment Statistics survey published on Tuesday showed the economy shed 21,000 jobs on a quarterly basis in the first quarter of 2023, bringing the level of employment to almost 10-million. Compared with March last year, 97,000 jobs were lost in the 12-month period. The decrease was observed across various sectors, though some experienced job gains. The firm-based survey showed the trade industry bore the brunt of the job losses, with a decrease of 36,000. The business services sector followed closely behind, with a decline of 32,000 jobs. The transport and construction industries both experienced a reduction of 2,000 jobs in the quarter. Full-time jobs also fell on a year-on-year basis, recording a decline of 24,000 jobs, highlighting businesses’ reluctance or inability to hire employees full-time given economic circumstances. Part-time employment enjoyed a noteworthy surge of 42,000 jobs quarter-on-quarter, rising from 1,110,000 in December 2022 to 1,152,000 in March. The data showed the community services industry emerged as the leading contributor to the part-time employment increase, adding 46,000 jobs. Stats SA data showed that overall, average monthly earnings, including overtime and bonuses, were down 2.7% quarter-on-quarter but up 6.8% on an annual basis.

• Read the full original of the report in the above regard by Thuletho Zwane at BusinessLive (subscriber access only)
• See too, Employment and gross earnings decrease in first quarter, says Stats SA, at TimesLIVE
• And also, 21,000 job losses in the first quarter, at Moneyweb

Get other news reports at the SA Labour News home page