The more peo­ple em­ployed, the bet­ter for home­own­er­ship lev­els

Weekend Argus (Saturday Edition) - - PROPERTY -

THERE’S a di­rect cor re­la­tion be­tween job cre­ation and higher home­own­er­ship lev­els, which is why the lat­est em­ploy­ment statis­tics are cause for some end-of-year cheer in the prop­erty mar­ket, says Berry Everitt, chief ex­ec­u­tive of the Chas Everitt In­ter na­tional prop­erty group.

“Ac­cord­ing to the Ad­corp Em­ploy­ment In­dex, em­ploy­ment in South Africa in­creased by an an­nu­alised 2,83 per­cent in Oc­to­ber, fol­low­ing a de­press­ing 1.2 per­cent de­cline in Septem­ber. Some of this in­crease is no doubt due to a sea­sonal in­crease in staffing lev­els be­fore the hol­i­days, as Ad­corp points out, but an­other set of stats pro­vides hope that at least some of the new jobs will be per­ma­nent,” he says.

“These come from a sur­vey con­ducted by the SA Re­cruiters Net­work, an on­line net­work en­vi­ron­ment for re­cruit­ment and hu­man re­source pro­fes­sion­als around the coun­try, in which 77 per­cent of re­spon­dents said they are cur­rently ap­point­ing new staff, and more than 30 per­cent said they wanted to fill at least 100 po­si­tions dur­ing the next fi­nan­cial year.”

And, says Everitt, there has been more good news on jobs in the past month, when the govern­ment specif­i­cally com­mit­ted to pri­ori­tis­ing em­ploy­ment cre­ation in all eco­nomic poli­cies to re­duce the un­em­ploy­ment rate from 25 per­cent to 15 per­cent over the next 10 years.

Writ­ing in the Prop­erty Sign­posts news­let­ter, he says the plan, de­tailed to the eco­nomic de­velop- ment com­mit­tee of the Na­tional Assem­bly by Eco­nomic Devel­op­ment Min­is­ter Ebrahim Pa­tel, aims to un­lock em­ploy­ment po­ten­tial in in­fra­struc­ture, agri­cul­ture, min­ing, the green econ­omy, man­u­fac­tur­ing and tourism, and in high-level ser­vice in­dus­tries.

“It in­cludes wel­come ini­tia­tives to pro­mote com­pe­ti­tion and bet­ter pric­ing of con­sumer goods and ba­sic con­struc­tion and agri­cul­tural in­puts; to cut waste­ful spend­ing and tackle cor­rup­tion in govern­ment; to achieve a new pact be­tween busi­ness and labour to save and cre­ate jobs, and to sub­stan­tially step up govern­ment sup­port for skills devel­op­ment.

“This is very en­cour­ag­ing and we feel sure that it will have a pos­i­tive im­pact on hous­ing de­mand.”

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