SA lost half a million formal-sector jobs in a year, new data shows

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Article highlights:

  • South Africa lost 552 000 formal-sector jobs in the year to end-March, the latest quarterly employment statistics (QES) from Statistics South Africa (Stats SA) show;
  • The number of full-time jobs fell by 6.5% while part-time employment increased by 47 000 or almost 5% year-on-year between March 2020 and March 2021;
  • SA GDP numbers for the first quarter of 2021 showed that the economy was 3.2% smaller than the same quarter a year ago.