South Africa’s job market sees minimal growth as employment numbers remain stagnant
South Africa’s Job Growth Stagnates with Only 12,000 Jobs Added in Q4 of 2024
Employment Statistics: The South African job market showed minimal improvement in the last quarter of 2024, with only 12,000 jobs added, reflecting a marginal 0.1% increase in employment. According to Statistics South Africa (Stats SA), the country’s total employment rose from 10,628,000 in September 2024 to 10,640,000 in December 2024, highlighting continued economic struggles.
Industries That Gained and Lost Jobs
While some sectors saw job growth, others experienced losses that offset the overall employment increase.
✅ Job gains:
- Trade: +42,000 jobs (1.8% increase)
- Business services: +22,000 jobs (0.9% increase)
- Transport: +2,000 jobs (0.4% increase)
- Electricity: +2,000 jobs (1.6% increase)
❌ Job losses:
- Community services: -25,000 jobs (-0.9% decrease)
- Manufacturing: -13,000 jobs (-1.0% decrease)
- Construction: -13,000 jobs (-2.1% decrease)
- Mining: -3,000 jobs (-0.6% decrease)
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Full-Time vs. Part-Time Employment Trends
- Full-time employment increased slightly by 10,000 jobs (0.1%), mainly due to growth in the trade and business services sectors. However, the construction and manufacturing industries lost a combined 24,000 jobs, offsetting much of the gain.
- Part-time employment rose by only 2,000 jobs (0.2%), with trade seeing the biggest growth (+18,000 jobs). However, community services, manufacturing, and transport sectors lost jobs, resulting in an overall decline of 65,000 part-time jobs (-5.3%) year-on-year.
Earnings and Salaries Show Growth
Despite the slow job market, gross earnings increased by R59.1 billion (6.1%), bringing total employee earnings to R1.03 trillion by December 2024. Bonuses surged by 85.4% in Q4, largely due to end-of-year payouts in manufacturing, trade, and business services.
Year-on-Year Decline in Employment
Comparing December 2023 to December 2024, South Africa lost 91,000 jobs (-0.8%), signalling a challenging economic climate. The numbers highlight the urgent need for policy interventions to create more sustainable employment opportunities.
While job numbers increased slightly in Q4 of 2024, the loss of 91,000 jobs over the past year highlights ongoing employment challenges. Sectors like trade and business services contributed positively, but construction, manufacturing, and community services saw significant job losses. The South African economy needs stronger job creation initiatives to combat rising unemployment.
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