Yesterday the front page of Business Report carried two disturbing articles, side by side: “Recovery of Jobs will be a struggle” and “SA needs labour reform – IMF”.
Without going into the nitty gritty, during the recession SA shed more jobs than other emerging markets and the recovery has been painfully slow. We are experiencing a job less recovery, due to radical changes in business and the mismatch between the skills required by employers and those offered by job seekers.
According to the IMF, the country needs growth in the region of 5.5-6%, for unemployment to reach 2008 levels….by 2013! Given that unemployment was already high in 2008, we have a long uphill job struggle ahead.
For 2011/2012, you should be tracking the job developments in your sector, using this rough guide:
Sectors adding jobs: public sector, energy, finance, tourism, ICT and personal services
Sectors losing jobs: clothing, manufacturing, construction and mining
Bear in mind that companies in these sectors may behave differently; you could find an IT company retrenching lower level staff and a construction company iring specialists.
Is your sector adding or losing jobs?