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BL Premium reports that data released on Tuesday showed that 74,000 jobs were shed in formal sector in the first quarter of the year.
According to Stats SA’s latest Quarterly Employment Statistics survey, employment in the non-agricultural sector contracted by 0.7% between December and March, shrinking the total number of jobs to 10,579,000. The biggest job losses came from the trade (52,000), community services (17,000) and mining (4,000) sectors, while business services, construction and electricity shed another 1,000 workers each. A slight improvement in the manufacturing sector did little to offset the decline with manufacturing jobs increasing by 2,000 from the previous quarter. SA’s official unemployment rate rose to 32.9% in the first quarter of 2025 from 31.9% in the fourth quarter of 2024. On an annual basis, total employment was down by 0.9% from March 2024. With six of the eight industries included in the survey posting fewer jobs than in December, Investec economist Lara Hodes said the outcome was indicative of a “lacklustre economy”. She explained: “Economic growth rose marginally in the first quarter of the year as the economy continues to face a number of challenges, with business confidence weak, weighing on investment potential.”
- Read the full original of the report in the above regard by Jacob Webster at BusinessLive (subscriber access only)
- Read too, Stats SA links first quarter job losses to muted economic growth, at EWN
- En ook, 74,000 minder werk in eerste kwartaal, by Maroela Media
Get other news reports at the SA Labour News home page