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SA lost 426 000 formal jobs in 15 months

South Africa has lost 426 000 jobs in the formal, non-agricultural economy in the past 15 months, according to Finance Minister Pravin Gordhan. The New Age quotes Gordhan as saying that the pace of job creation in South Africa has been far too slow, while wage levels in the public and private sectors have increased.

26 Oct 2011

Gordhan says that about half of all jobs created in the past 15 months were in the public sector and government remains the largest employer and it has actively supported the labour market in the past year and more.

Provincial government accounts for about 60% of the employment mainly in education and health while national and municipal government accounts for the balance.

Gordhan says expanded public works programme is being funded to the tune of R73-billion between now and 2014-15.

Read the full article on www.thenewage.co.za.
Read the full article on www.thenewage.co.za.