The number of jobs created by South African business has increased by 7% this year, a survey released on Monday has shown.
According to the latest Grant Thornton employment-growth survey, the percentage represents a significant improvement from last year’s employment figures.
”This is up four percentage compared to last year’s employment growth index [EGI] which only reflected a 3% growth as a result of hampered employment growth within the manufacturing sector.”
The EGI forms part of the 2007 Grant Thornton International Business Report and is determined by calculating the difference between increases and decreases in employment reported by businesses surveyed.
”Those businesses that increased employment reported, on average, that they had 14% more employees, while those that cut staff lost an average of 11%.”
The survey also found that all major industry sectors in the country reported an increase in employment, with the construction industry showing the most significant growth with 13%.
The manufacturing industry, which had registered a 3% decline in employment growth last year, achieved a 5% growth.
The national chairperson of Grant Thornton South Africa, Leonard Brehm, said prospects for future growth are excellent, as all respondents indicated that they expect to increase their staff complement in the next year. — Sapa