South Africa’s threatened mining sector lost 23 000 jobs in the 12 months to June, and 4 000 of those were lost between April and June.
Statistics SA’s quarterly employment statistics, released yesterday, said the information for the latest quarter was preliminary “and will be revised by the Minerals Bureau as soon as [it] receives more information from the different mines”.
The mining sector, which is one of the economy’s biggest employers, has been plagued by industrial disruption, high wage demands and confrontations between rival unions.
A volatile labour force, the high cost of extraction and uncertainty about government policy are putting mining companies under pressure.
Against this backdrop, some groups are restructuring to become more cost effective, and investment from new sources is drying up.
A recovery in gross domestic product (GDP) growth to an annualised 3 percent in the second quarter, from less than 1 percent in the first, did not spill over into the jobs market.
Overall, 7 000 jobs were added in the 12 months to June, but earlier gains were reduced when 28 000 jobs were lost in the quarter to June.
Chosen excerpts by Job Market Monitor. Read the whole story at
via Mines cut 23 000 jobs in 12 months – Business News | IOL Business | IOL.co.za.
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