SA economy shed 79,000 formal jobs in first quarter

Year-on-year, the number of employed persons fell by 2,9 percent, or 242 000 employees, in the quarter ended March 31, 2010. Stats SA noted that just under 8,1-million people were estimated to be employed in the formal sector at the end of the quarter. The mining and quarrying industry increased employment by 3, 000 employees, or 0,6 percent, quarter-on-quarter, but the number of employees declined by 9 000, or 1,8 percent, year-on-year.

On a quarter-on-quarter basis, the manufacturing industry also increased its employment levels by 3 000 employees, or 0,3 percent. However, it recorded a year-on-year decline in employment of 51 000 employees, representing a 4,1 percent decline.
With many construction projects having been completed for the 2010 FIFA World Cup, the construction sector shed 50,000 employees, representing a 10,9 percent decline, year-on-year and 7,000 employees, representing a 1,7 percent decline, on a quarter-on-quarter basis.