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AEI May 2010
Salient features
- Employment fell sharply between April and May 2010 at an annualized rate of 6.2%.
- Employment fell most sharply in the highly cyclical construction (10.2%) and trade (9.2%) sectors.
- Employment fell across all job types, but the decline was most pronounced among permanent, full-time staff (7.2%).
- Employment fell most sharply among low-skilled (10.1%) and semi-skilled workers (7.4%).
- Roughly 39,000 South African job-seekers returned from foreign countries over the past year, representing 13.7% of those who left the country to find work since 1990. On account of South Africa’s skills shortage, unemployment for highly skilled professionals is just 1.4%. The number of returnees is likely to rise to 120,000 as foreign short-term work contracts expire.
- This month we introduce the Adcorp Employment Quarterly, in which four leading contributors focus their attention on unemployment, offering practical solutions to South Africa’s most pressing problem.
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