World Economy

South Africa Not Creating Enough Jobs

South Africa Not Creating Enough JobsSouth Africa Not Creating Enough Jobs

Economists have warned that while an additional 56,000 jobs have been created in South Africa in the last quarter, it doesn’t paint a good picture overall. Stats SA released the findings on Tuesday, showing that employment increased due to the community services, construction, manufacturing and business services sectors, EWN reported. However, employment decreased in the trade, mining and transport sectors. Economist Azar Jammine points out that year-on-year, employment figures aren’t as high as they should be. “If you look at a year as a whole, through to the first quarter, the amount of job creation in the formal sector was 74,000, or 0.8% which is still well below the economic growth rate recorded over the past year and that means that the country is still not creating enough jobs.” Meanwhile, South Africa’s economic growth prospects will be limited by weak business confidence while uncertainty around land and mining reforms remain a concern for investors, ratings agency Moody’s in research report on Tuesday.

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