Streaming issues? Report here
Just the Hits generic CapeTalk Just the Hits generic CapeTalk
Just the Hits
15:00 - 20:00
volume_up
volume_mute

Up Next: Just the Hits... with Soul
See full line-up
Just the Hits
15:00 - 20:00
Home
arrow_forward
Business
fiber_manual_record
Local

86 000 jobs lost in formal (non-agricultural) sector from March to June

28 September 2021 9:07 PM
Tags:
The Money Show
Stats SA
Bruce Whitfield
Statistics South Africa
Job losses
George Glynos
ETM Analytics
Employment stats
unemployment rate
formal sector
COVID-19
economic recovery
quarterly employment statistics

ETM Analytics' George Glynos discusses the quarterly employment statistics from Stats SA with Bruce Whitfield.
Image: wal_172619 on Pixabay

South Africa continues to bleed jobs, according to the Quarterly Employment Statistics (QES) survey released by Statistics SA on Tuesday.

86,000 jobs were lost in the formal non-agricultural sector in the second quarter of 2021.

Total employment dropped from 9,652,000 in March to 9,566,000 in June.

Stats SA reports that the drop in employment was largely due to decreases in community services, manufacturing construction, electricity and business services.

However, there were increases in the mining and transport industries.

Bruce Whitfield discusses the quarterly employment stats with George Glynos, Head of Research at ETM Analytics.

Should we get rid of this notion of "job creation" as jobs don't simply get created out of thin air? Whitfield asks.

I think that's exactly the point, that we have a government that's hell-bent on this notion of job creation and they've done a pretty poor job of it - you just have to look at the unemployment numbers over the past decade...

George Glynos, Head of Research - ETM Analytics

Covid did make the issue so much worse... but really this is a function of really poor policy, a function of a government that simply will not get out of the way... It's a country that's over-regulated...

George Glynos, Head of Research - ETM Analytics

There's a lot we can do to turn this around but it's going to require the government to gain a little bit of respect for tax payers, and they need to gain a lot of trust with the private sector...

George Glynos, Head of Research - ETM Analytics

Sometimes the best thing that the government can do is actually nothing. They just need to get out of the way and let the private sector do what it does best and that is to target growth, target profitability.

George Glynos, Head of Research - ETM Analytics

If there is a fostering of an environment of growth the jobs will come, Glynos maintains.

He says that since the Ramaphosa administration took over every sector in South Africa has lost jobs, bar mining and quarrying, and of course government itself.

On a positive note though, there are signs that the government is coming around he adds.

Listen to the discussion on The Money Show (skip to 1:40):




28 September 2021 9:07 PM
Tags:
The Money Show
Stats SA
Bruce Whitfield
Statistics South Africa
Job losses
George Glynos
ETM Analytics
Employment stats
unemployment rate
formal sector
COVID-19
economic recovery
quarterly employment statistics

More from Business

More from Local