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Johannesburg - Gauteng continues to contribute the most to South Africa's gross domestic product and was expected to do so until 2014, according to the Gauteng Provincial Economic Review and Outlook released on Tuesday.
"The province has continued to contribute the most to the GDP of the country at over 35% and this trend is expected to continue all the way into 2014," the report, released by the provincial finance MEC Mandla Nkomfe, said.
It says despite the negative effect of the financial crisis, the Gross Domestic Product by Region (GDPR) is expected to increase from R640bn in 2010 to R750bn in 2014.
The province also benefited more than others from the 2010 World Cup as three out of the ten stadiums used for matches in the country were located in Gauteng and were used for 21 out of 64 soccer games.
The skills shortage continues to be a problem. The report says the labour market is characterised by an increasing labour force "that is not adequately absorbed by available jobs on offer as a result of the skills mismatch".
The Gauteng labour force grew from 5046 000 in the fourth quarter of 2009 to 5 063 000 in the second quarter of 2010.
"Unemployment grew by one percentage point over this period, from 26% to 27%.
"However, employment levels have been increasing from 2004 (4.057 million) and are forecast to reach 5.638 million by 2012."
The African population constitutes the highest number of unemployed people in the province. Whites constitute the lowest percentage of unemployed people in Gauteng.
"This highlights the inequality that still exists whereby whites make up the second largest percentage of population (18%) in the province but are the highest in terms of employment.
"The African population made up 75% of the total population of the province in 2009, this according to IHS Global Insight."
The highest percentage of employment created is in the wholesale and retail trade sub-sector, followed by the finance and business services sector, the government, social and personal services and manufacturing.
The finance and business sectors continue to dominate in contributing toward the province's GDP.
The manufacturing sector, the third largest in the province, is estimated to have contributed 19% to Gauteng's GDP in 2009.
"In-depth analysis also showed that petroleum & chemicals and metals, machinery & equipment contributed the most to manufacturing at an estimated 25.3% and 24.7% for 2009.
"The petroleum and chemicals industry also had the highest labour productivity and capital intensity. Metals, machinery & equipment contributed significantly to employment within the sub-sector."
This sub-sector was, however, hit by the recession with over 200 000 jobs shed in the first half of 2009 in the country as a whole.
"The province has continued to contribute the most to the GDP of the country at over 35% and this trend is expected to continue all the way into 2014," the report, released by the provincial finance MEC Mandla Nkomfe, said.
It says despite the negative effect of the financial crisis, the Gross Domestic Product by Region (GDPR) is expected to increase from R640bn in 2010 to R750bn in 2014.
The province also benefited more than others from the 2010 World Cup as three out of the ten stadiums used for matches in the country were located in Gauteng and were used for 21 out of 64 soccer games.
The skills shortage continues to be a problem. The report says the labour market is characterised by an increasing labour force "that is not adequately absorbed by available jobs on offer as a result of the skills mismatch".
The Gauteng labour force grew from 5046 000 in the fourth quarter of 2009 to 5 063 000 in the second quarter of 2010.
"Unemployment grew by one percentage point over this period, from 26% to 27%.
"However, employment levels have been increasing from 2004 (4.057 million) and are forecast to reach 5.638 million by 2012."
The African population constitutes the highest number of unemployed people in the province. Whites constitute the lowest percentage of unemployed people in Gauteng.
"This highlights the inequality that still exists whereby whites make up the second largest percentage of population (18%) in the province but are the highest in terms of employment.
"The African population made up 75% of the total population of the province in 2009, this according to IHS Global Insight."
The highest percentage of employment created is in the wholesale and retail trade sub-sector, followed by the finance and business services sector, the government, social and personal services and manufacturing.
The finance and business sectors continue to dominate in contributing toward the province's GDP.
The manufacturing sector, the third largest in the province, is estimated to have contributed 19% to Gauteng's GDP in 2009.
"In-depth analysis also showed that petroleum & chemicals and metals, machinery & equipment contributed the most to manufacturing at an estimated 25.3% and 24.7% for 2009.
"The petroleum and chemicals industry also had the highest labour productivity and capital intensity. Metals, machinery & equipment contributed significantly to employment within the sub-sector."
This sub-sector was, however, hit by the recession with over 200 000 jobs shed in the first half of 2009 in the country as a whole.
