See More

New jobs scarce in Western Cape

May 12 2011 08:32 François Williams

Related Articles

Western Cape construction lags behind

Western Cape economy 'doing extremely well'

Western Cape economy on the boil

Cape Town - The Western Cape economy is showing healthy growth, as indicated by the Sake24 and BoE Private Clients latest barometer information for March.

But its economy is struggling – like the rest of the country – to create sorely-needed new jobs.

In March its barometer rose 11.5% to 112.6 index points compared with last year. It was 0.5% up on the previous month, and for the three months to end-March it improved 7.8% compared with the previous three months.

Economists.co.za economist Mike Schüssler, who compiled the barometer, said that in March national government expenditure reached a high of R55bn countrywide, helping to push up the Western Cape barometer.

He ascribed the strong increase of state expenditure to the ending of the fiscal year.

Although Western Cape unemployment was 22.2%, compared with a national average of 25%, Schüssler said it was concerning that the province was unable to create more jobs despite its good economic growth.

The province's stress index, which indicates the type of pressure on business people, did however slide 1.4% in March. This was helped by inflation - slightly lower than the national average at 4% - and a 44.3% drop from the previous year in the number of civil indebtedness court cases.

In March all sub-indices in the Western Cape barometer, other than agriculture and construction, were in positive territory compared with the year before.

- Sake24

For business news in Afrikaans, go to Sake24.com.

For more news on the Sake24/BoE Private Clients barometers, go to www.fin24.com/barometer.
george  |  cape town  |  barometers



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The total fuel levy of 80.5c a litre announced in the budget:

Previous results · Suggest a vote