Economic uncertainty contributes to muted employment growth
Ongoing global economic uncertainty is holding South African employers back from increasing their staffing levels, with the latest ‘Manpower Employment Outlook Survey' (MEOS) showing cautiously optimistic hiring intentions for the second quarter of the year.
“The majority of local employers said they anticipate no change in their staffing levels for the upcoming quarter, which is a reflection of this economic uncertainty translating into the local employment market,” says Manpower SA MD Lyndy van den Barselaar.
Of the 751 South African employers who participated in the survey, 12% expect to increase staff levels, 5% expect a decrease in employment and 81% expect there will be no change in the second quarter of this year.
“Once the data has been seasonally adjusted, the resulting net employment outlook is up 7%. Hiring prospects are unchanged quarter-on-quarter and improve by two percentage points year-on-year.
Opportunities for job seekers are expected to be strongest in the transport, storage and communications sector and weakest within the mining and quarrying sector.
Employers in the Western Cape reported the strongest hiring intentions of all provinces for the second quarter, while those in Gauteng reported the weakest hiring intentions.
Commenting on the MEOS, Novare economic strategist Tumisho Grater pointed out that South African employers are still applying a conservative approach regarding their hiring intentions for the coming quarter.
She added that, although the local political front had been relatively uneventful in the past few weeks, any negative developments stemming from the succession battle within the ruling party could spark a plunge in confidence, induce market volatility and place the country’s investment grade sovereign ratings under renewed threat.
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