Distribution and logistics are among the sectors of the economy that employed more people during the last quarter of 2011 compared with Q3.
Loan Sharp, Adcorp labour analyst, reported earlier this week that the economy’s Q4 employment growth – 180 000 jobs created in the formal sector as of figures released yesterday – was supported by growth in the labour-intensive service sectors of the economy, which include retail and wholesale trade; financial services; and distribution and logistics — all sectors that expanded briskly in Q3.
Yesterday’s figures indicate that unemployment declined in Q4 of last year to its lowest level in more than two years, supported in part by the seasonal creation of temporary jobs in the retail sector.
The jobless rate declined to 23,9% from 25% in the third quarter.
Manufacturing created 52 000 jobs in Q4 alongside trade’s 48 000.
However, analysts note that the pace of job creation is still too slow to meet an official target of generating 5-million new jobs by 2020.
Meanwhile, January’s Purchasing Managers Index (PMI) rose to its highest level since June last year, suggesting that the domestic economy can expect some good news in the months ahead.
