Statistics South Africa (Stats SA) said yesterday that formal employment in the country for the fourth quarter of 2023 decreased by 194 000 jobs, or 1.8%, quarter on quarter.
This brought the level of employment to 10.7 million, according to Stats SA’s quarterly employment statistics (QES) survey.
Lara Hodes, an economist at Investec, said declines were logged in five of the eight industries included in the survey, evincing the fragile state of the economy.
The country’s numerous challenges, including unstable electricity supply and logistical constraints which were particularly elevated in quarter four of 2023, continued to impede optimal growth, she said.
The survey showed that the community services industry saw the highest number of job losses, totalling 214 000, followed by the construction industry, which lost 19 000 jobs, and…