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S. Africa economy sheds 15,000 jobs in Q1

Xinhua, July 5, 2016 Adjust font size:

The formal non-agricultural sector of the South African economy shed 15, 000 jobs in the first quarter of 2016, according to the Quarterly Employment Survey released on Monday.

The survey showed that employment declined by about 0.2 percent to 9.2 million people in the formal non-agricultural sector of the economy, Statistics South Africa said.

The largest percentage of job losses took place in the retail, hotel and restaurant sector. Employment in the mining sector, finance and business services also contracted.

The survey collects data from the mining, manufacturing, electricity and gas, construction, retail, business and community and personal services sector, and measures the level of employment and earnings per sector.

This is a sign that South Africa is yet to heed the siren calls, warning of the societal consequences of unemployment and retrenchments, the Congress of South African Trade Unions (COSATU) said in response to the survey.

"This also signals that all social partners are still in denial about the extent of the crisis," the national trade federation said. "We need a bold and decisive collective response to the crisis of this magnitude."

SA's unemployment figure of 27 percent does not even factor in the discouraged workers, who are no longer looking for jobs, COSATU said.

The federation reiterated its call for a decisive state intervention in strategic sectors of the economy.

"Government can no longer afford to act as a neutral spectator when the economy is on its knees," COSATU said. Endit