Anaemic employment conditions are continuing in South Africa, with more than a third of all people who want to work unable to find work.
Solidarity’s Labour Market Report for the fourth quarter of last year, released yesterday, also found that the recovery in vehicle sales was temporary, bringing merely short-term relief.
ETM Analytics compiled the report in cooperation with Solidarity. ETM chief strategist Russell Lamberti said the vehicle sector specifically operated under tremendous pressures and even though domestic vehicle sales recovered marginally in the short-term due to lower fuel prices and credit growth, the overall trend in the sector remained downward due to the broader economic downturn.
“The relief on consumers is not enough, particularly with the negative impact electricity constraints will have on the economic growth of the country,” he said.
– Cindy Preller