Fewer jobs in May: Index

2011-06-13 09:49

Employment declined for the first time in five months due to sharp drops in jobs in the construction and manufacturing sectors, according to the latest Adcorp Employment Index released today.

“Employment dropped last month at an annual rate of 2.5% and we ascribe this decline – the first in five months – to a significant drop in employment in the construction (-20.1%) and manufacturing (-11.0%) sectors, as well as a small drop in government employment following the local government elections (-2.7%) last month,” said Loane Sharpe, Adcorp labour market analyst.

High-skilled employment increased by 4.5%, while low-skilled employment dropped by 3.7%.

“Employment of machine operators and elementary workers dropped sharply, by 14.9% and 12.9% respectively,” Sharpe said in a statement.

Adcorp said that based on World Economic Forum (WEF) data, South Africa’s labour market competitiveness fell by 8.1% over the past year.

“The WEF has revealed that South Africa’s international ranking fell from 123rd (an effective score of 11.5%) in 2008 to 133rd (4.6%) in 2011 in terms of the competitiveness of the country’s employment market,” Sharpe said.

“South Africa’s labour laws and regulations are now the seventh most restrictive out of 139 countries in the world.

“According to a survey of the world’s 1 000 largest multinationals, restrictive labour regulations are the fourth most problematic factor for doing business in South Africa.”

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