MONDAY, 11.00AM
THE Central Statistical Service said at the weekend that the SA economy lost 71 000 jobs last year in the non-agricultural formal sector, in a blow to government’s hopes of creating 126 000 jobs.
Government’s growth, employment and redistribution strategy (Gear) projected 126 000 jobs would be created last year, with a further 252 000 being opened this year. Gear also projected a 2,9% economic growth rate this year, when most other economic forecasts have been revised downwards to between 2% and 2,5%.
Non-agricultural economic output in 1996 increased by 1,85% despite the 1,3% rise in unemployment — a situation of “jobless growth”. Some economists, however, dispute the unemployment figures, saying they underestimate the increasing levels of casual employment and other new forms of employment.