Economist Concerned About The Decline In The Economy
Written by Mduduzi Phungula on 28 September, 2022
By: Lindelani Mbatha
Economist Dante Mashile says it’s very concerning that the business outsourcing component of the economy is showing a decline of 0.6%.
According to the Quarterly Employment Statistics survey released by Stats SA, total employment in the formal non-agricultural sector decreased by 119 000 in the second quarter of 2022, bringing the level of total employment to approximately 9,9 million.
The survey showed that jobs increased by 74 000 between June 2021 and June 2022 while employment decreased by 119 000 quarter-on-quarter.
Mashile says a decline in the manufacturing sector is a sign of economic contraction.
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