Government has welcomed the marginal employment growth and expansion of South Africa’s real Gross Domestic Product (GDP) in the second quarter of this year.
“The growth bears testament to the government’s commitment made during the State of the Nation Address in February to ensure positive economic growth that will encourage business development and provide more employment opportunities,” Acting Director-General of Government Communication and Information System (GCIS), Nomonde Mnukwa ,said on Friday.
According to the Quarterly Employment Statistics survey released by Statistics South Africa (Stats SA) this week, the total employment in the formal non-agricultural sector increased by 42 000 in the second quarter of 2024, bringing the level of employment to 10.7 million.
While the survey shows that 144 000 jobs were lost between June 2023 and June 2024, the total number of employees grew by 42 000 (0.4%), with employment rising from 10.67 million in March 2024 to 10.72 million by June 2024.
“The positive developments mean that government’s structural reforms are unlocking the bottlenecks and removing red tape to drive inclusive growth and job creation. South Africa’s business-friendly approach paves a positive sentiment, signalling that South Africa is becoming more and more of an investment destination,” Mnukwa said.
The GCIS said this growth shows commitment by government to work with social partners to stabilise the economy.
“The prudent economic path pursued to turn around our economy is starting to show improvement,” GCIS said.
