South Africa: ALL INDUSTRIES SAW JOB LOSSES Y/Y IN Q3
(005320.38-:E-003569.93:N-HO:R-SU:C-30:V)
[The ship is sinking faster due to COVID. Jan]Most job losses were reported in business services, followed by trade with 162,000 job losses as compared to the third quarter in 2019.
JOHANNESBURG – Statistics South Africa said all industries recorded job losses year-on-year in the third quarter of the year.
The entity released the employment statistics for the period on Tuesday.
It also highlighted that new data collection methods had to be relied on given the limitations imposed by the COVID-19 pandemic.
Most job losses were reported in business services, followed by trade with 162,000 job losses as compared to the third quarter in 2019.
The picture was not completely bleak with the total number of employed persons increasing from 9 506 000 in the second quarter to 9 581 000 in the period under review.
Meanwhile, gross earnings increased by R35.5 billion at 5.5% since the second quarter.
However, year-on-year data showed that R43.8 billion was lost due to basic salary payments.
Source: https://ewn.co.za/2020/12/16/stats-sa-all-industries-saw-job-losses-y-y-in-q3
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