THE BAD

Finweek English Edition - - THE WEEK -

With South Africa for­mally in re­ces­sion and hop­ing for some good news, the lat­est em­ploy­ment fig­ures re­leased by Stats SA on 27 June holds no re­prieve. Ac­cord­ing to the March 2017 Quar­terly Em­ploy­ment Sur­vey (QES), the num­ber of em­ployed peo­ple in the for­mal, nona­gri­cul­tural sec­tor of the South African econ­omy de­clined by 48 000 be­tween De­cem­ber 2016 and March 2017 to 9 644 000. De­creases in em­ploy­ment are partly due to end of con­tracts for work­ers who were em­ployed dur­ing the fes­tive sea­son. Gross earn­ings also de­creased by R19.4bn to R588bn in March 2017, Stats SA said.

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