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86 000 Formal Jobs Lost In The Second Quarter

jobs lost

Statistics South Africa (StatsSA) has released its Quarterly Employment Statistics (QES) for the second quarter of 2021. StatsSA found that around 86 000 formal jobs were lost during the second quarter of 2021. 

Quarter on quarter job losses was recorded in the following industries: 

  • The Community Services industry lost 65 000 jobs. 
  • Manufacturing jobs decreased by 15 000 jobs. 
  • Construction jobs decreased by 7 000 jobs. 
  • Business services lost around 1 000 jobs. 

Total employment from last year June 2020 to June 2021 increased by 60 000 jobs. The majority of this is made up from Part-time employment which increased by 77 000 or (8,4%) year-on-year. However, full-time employment decreased during the same period. 

Full-Time Employment 

Full-time employment decreased by 17 000 jobs year-on-year between June 2020 and June 2021. The Quarter to quarter changes indicated that full-time employment decreased by 27 000 jobs between March 2021 and June 2021. 

Part-time Employment 

Part-time employment increased  by 77 000 jobs year-on-year between June 2020 and June 2021. However, the quarter on quarter statistics indicated that part-time employment decreased by 59 000 jobs. 

Speaking prior to the release of the statistics, PwC economist Christie Viljoen says that formal sector jobs would have taken a hit due to low investment in South Africa. The uncertainty around some of the countries policies may discourage businesses from investing.  

He says that uncertainty around land expropriation without compensation and a proposal of increasing income tax to fund a basic income grant may put businesses off from investing. This, along with a threat of load shedding that would disrupt the electricity supply in the country. 

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