Analysts say they expect an increase in the number of job losses in the second quarter ahead of employment data from Stats SA on Tuesday.
In the first quarter of 2019, Stats SA’s quarterly labour survey indicated an increase in the unemployment rate to 27.6%, from 27.1%.
Economist at Econometrix Laura Campbell says: “Employment trends tend to lag overall economic growth and therefore it is possible that there will have been net job losses recorded in the second quarter following the dismal minus 3.2% quarter on quarter GDP growth that we saw in the first quarter.”
“Furthermore with confidence low in the domestic economy, overall the number of discouraged workers, these are workers who have given up on up looking for work may have increased.”
Related video click below:
The post Analysts expect increase in number of jobs lost in SA appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..