Soaring joblessness weighs on Ramaphosa presidency

The economy lost 237,000 jobs during the first quarter of 2019. Leading that was the construction sector, which shed 142,000 jobs.

The mining sector, one of the pillars of the SA economy, shed 20,000 jobs and agriculture 12,000. Employment gains were recorded in the transport industry with 59,000 jobs, trade 25,000, utilities 16,000 and manufacturing 14,000.Nedbank chief economist Dennis Dykes said Ramaphosa faced an enormous task in reversing the unemployment rate.

Econometrix chief economist Azar Jammine said Ramaphosa needed to tackle policies that had led to unemployment, such as improving the education system and labour laws, to make them more attractive for business.He singled out the national minimum wage, which came into effect in January, saying it could be argued that it is one of the factors that contributed to the spike in unemployment.

“He has promised to improve the economy and clean up the rot in government. He has the ability to do that. Those numbers show this is the legacy Zuma left us,” said Gouws.

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