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Seifsa concerned by further increase in unemployment numbers for the third quarter

29th October 2019

By: Creamer Media Reporter


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This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.

The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) is concerned following the release by Statistics South Africa (Stats SA) today of data, showing an increase in the unemployment numbers in the domestic economy, Economist Marique Kruger said.

The latest Quarterly Labour Force Survey (QLFS), which is a household-based sample survey that captures labour market activities of persons aged 15-64 years, indicates an increase in the number of jobs in the broader domestic economy on a quarter-on-quarter basis from 16 313 000 in the second quarter of 2019, to 16 375 000 in the third quarter of 2019.

Speaking after the release of the numbers, Ms Kruger said despite the increase in jobs numbers, there was a more-than-proportionate increase in the number of unemployed persons, thereby compounding the unemployment number to 6.7 million persons in the third quarter of 2019, from 6.6 million. As a result, there was a slight increase in the unemployment rate from 29 percent during the second quarter of 2019 to 29.1 percent during the third quarter of 2019.

“The increase in unemployment numbers is concerning, especially as the unemployment dilemma continues to be difficult for policy makers and captains of industry to deal with. Despite ample political will and willingness by key stakeholders – including Business, Labour, Civil society and Government – to collaborate in finding sustainable solutions to the scourge of unemployment, there has been little progress made hitherto,” she said

Ms Kruger said the data shows that efforts aimed at easing unemployment are not bearing fruits, and that more time is still needed for initiatives aimed at creating sustainable employment to become more effective.

However, Ms Kruger said SEIFSA remains confident that identified interventions aimed at attracting investment will invariably stabilise employment numbers in the medium to long term, against the backdrop of recent moderate job gains.

“The broader manufacturing sector – including its metals and engineering (M&E) cluster of industries – recorded employment losses of 30 000 jobs during the third quarter of 2019, representing a -1.6 percent quarter-on-quarter decrease. However, encouragingly the sector gained 41 000 jobs in the year, a 2.4 percent year-on-year change,” she said.

In conclusion, Ms Kruger said the changes in employment numbers were varied in other industrial sectors. The mining sector recorded a net gain of 38 000 jobs on a quarter-on- quarter basis, while also gaining a total of 13 000 jobs year on year. The construction sector shed 24 000 jobs on a quarter-on-quarter basis.

Edited by Creamer Media Reporter



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