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Half a million jobs to go

Aug 10 2011 10:00
I-Net Bridge
Johannesburg - Employment numbers during July slumped by 0.4%, a statistic equivalent to annual losses of 270 504 permanent and 79 380 temporary workers, human capital management group Adcorp said on Wednesday.

Releasing its monthly employment index, it said that more jobs were lost in July and more are to follow.

Adcorp predicts that a massive 468 192 jobs will be shed in the remaining months of 2011 and in 2012.

Meanwhile, Adcorp's July numbers showed that government employment continued to rise (by 1.4%) as did "unofficial" jobs, which grew at an annual rate of 191 124 during July.

"The public sector now accounts for all the job creation in our economy in 2011 while the growth in unofficial employment - coupled with the decline in official employment - reinforces a trend that has been in evidence since as far back as January 2000," said Loane Sharp, Adcorp's labour market analyst.

"Employment declined most sharply in the mining (7.7%) and manufacturing (8.6%) sectors in spite of sharply rising export prices for commodities and basic beneficiated manufactured products."

In this month's Index, Adcorp noted that membership of South African trade unions declined from 4.3 million in 2000 to 3.2 million in 2010, a trend which Sharp said is out of sync with the surge in strikes and work stoppages reported so far this year.

Highlighting the 14.6 million strike-induced workdays lost in 2010, Sharp said that Adcorp's research suggested that in 2011 this figure would rise by 22% to 17.8 million.
unemployment

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