The employment rate in South Africa reached a two-and-a-half year record high in March, based on the Adcorp Employment Index released on 11 April 2011.
A large number of work opportunities became available within all major sectors as total national employment increased by 5.6% last month when compared to February.
“This is definitely the very first time in approximately two-and-a-half years that each and every sector, occupations and employment types revealed positive growth,” said Adcorp’s CEO, Richard Pike.
Unquestionably the transport sector experienced the best employment growth rate with 18.3%. Mining currently employs approximately 316 000 employees, as employment increased by 11.5%.
Manufacturing presently has in excess of 1.4-million employees. Demonstrating excellent recovery coming from a recession, job opportunities within this sector expanded by almost 9.4% from February. It encountered a -3.4% decline in February when compared with January.
Additional record high employment growth rates happened to be observed in the electricity, gas and water supply industries with a combined 13.6%, and agriculture sitting at 11.8%.As much as 89 000 South Africans happen to be doing work in the former, at the same time there are now approximately 10.3-million skilled agricultural and fishery workers in the country.
The formal sector accomplished a 7.3% monthly growth, at the same time employment in the informal sector increased by 2.0%. “This stands out as the first time since January 2006 that the formal sector drew staff out of informal employment,” Pike said.
Employment within the financial sector stands at over 1.6-million plus increased by 3.8% in February. In excess of 1.6-million ply their particular trades in the wholesale and retail industry.
South Africa lost far more than a million jobs as a consequence of the economic recession that endured throughout 2009, nonetheless the March employment rate of growth is surely an signal of shift and progress.
Beneficial to New Growth Plan
This particular employment growth, despite the fact that it is not guaranteed, bodes well with the government’s campaign of lowering the country’s unemployment rate by 10% over the next 10 years. By means of its New Growth Plan, the government is determined to create five million work opportunities within the period.
The government has called on the private sector to play an even more significant function in this particular drive by creating more jobs.
All of the government spheres have already been asked to produce jobs. Adcorp’s February employment index discovered that new government jobs improved by 5.5% in the month. The expansion appeared to be mostly in municipalities and provincial government.
The national unemployment rate currently stands at 24%, after a 1.3% drop in 2010. Statistics South Africa believed that a minimum 13.1-million South Africans were found to be employed by the fourth quarter of 2010.
Temporary employment showed a 3.7% growth during February. Adcorp remarked that this type of employment in conjunction with contract jobs has grown by 64.1% since 2000.
Long term work opportunities happen to be diminishing as businesses have a preference for temporary or short-term contract employees.
Adcorp maintains the fact that temporary jobs boom is in line with global general trends and “South Africans in spite of everything requires a change in way of thinking surrounding the notions of temporary and permanent employment”.
This particular development could quite possibly put a strain on a large number of South African workers, simply because it confines their participation in the economy and personal growth. Additional complications usually appear when short-term contract employees have to gain access to funding for essentials such as housing.