594,000 formal jobs lost from December 2019

Labour analyst from Tony Healy and Associates, Tony Healy spoke with eNCA's Dan Moyane. Courtesy of #DStv403

JOHANNESBURG - The formal sector created 76,000 more jobs in the last three months of last year as lockdown restrictions were eased, according to the latest employment figures by Statistics South Africa.

The study surveys formal businesses and is separate from the labour force survey which looks at households and the employment status of individuals.

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Most jobs in the fourth quarter were created in the trade and government sectors, at 54,000 and 51,000 respectively.

Construction lost 18,000 jobs while manufacturing shed 13,000.

The numbers continue to reflect an anaemic economy.

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The formal sector shed 594,000 jobs between December 2019 and December last year.

Labour analyst Tony Healy said primarily it has to do with COVID-19, although there are other factors.

"When we were entering COVID we were already under pressure as an economy but COVID has certainly fast-tracked the really alarming reduction we're seeing in the kinds of sectors and industries that are labour intensive."

Source
eNCA

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