Adcorp estimates that in the last decade the economy has lost R55.2-billion cumulative terms due to sickness.
Adcorp's employment figures for February have shown South Africa's job situation has not changed, but labour productivity has hit a 50-year low.
Labour experts warn that the introduction of two new laws will tighten the noose on employers. Chantelle Benjamin reports.
Labour productivity in SA is declining because of the power of bargaining councils and aspects of the country's labour laws according to a new report.
South African job seekers are headed for tough times due to slow economic growth and stagnant employment, Adcorp's latest index has shown.
Employment has grown marginally in South Africa but analysts warn the slowing of small business activity could lead to economic stagnation.
The Adcorp Employment Index, released on Tuesday, has revealed that over 100 000 jobs have been created in March, the highest number since 2009.
New data shows that around 440 000 small businesses have closed in the past five years, and the number of businesses starting up is at a record low.
At a time when job creation is the focus of economic policy, a colossal fight is brewing over the reliability of employment statistics in SA.
Certain economic sectors are facing severe shortages but others are oversupplied, writes Lisa Steyn.
According to the Adcorp Employment Index, over 100 000 new jobs were created in December 2011 with temporary work growing the fastest.
The latest Adcorp Employment Index has found that a rethink was needed on South Africa's 'shambles' of a labour market.
An Adcorp index has shown while no significant changes in jobs were seen for October, SA's labour productivity fell to its lowest level in 40 years.
Another 49 306 jobs were lost in August, the fourth consecutive monthly decline, while only government created jobs, an employment index has shown.
Employment in July was down for the third consecutive month although jobs in the public sector grew, according to the Adcorp Employment Index.
A sharp drop in jobs in the construction and manufacturing sectors caused a decrease in employment figures according to the Adcorp Employment Index.
Employment increased slightly in April, showing growth in high-skilled jobs, but declined in those requiring low skills, an employment index revealed.
Employment grew at its highest level in two years in March, although many of the jobs created are temporary, according to figures released on Monday.