HomeBase MetalsMining sector sheds 15,000 jobs in Q3

Mining sector sheds 15,000 jobs in Q3

Unemployed miners
demonstrating in
South Africa earlier
this year
Pretoria, South Africa — 13 December 2012 – The beleaguered South African mining sector shed 15,000 jobs in the third quarter of 2012, reflecting the extent to which the slowdown in global demand for commodities, coupled with disruptive wildcat strikes, had on the industry.   

BDlive reports that a Statistics South Africa jobs survey released here said the job losses in mining do not bode well for South Africa’s already high unemployment rate of 25.5%.

Although most of the violent mining sector strikes happened in August, their effects are still being felt. This is evident in various economic data, the latest being the 7.7% decline in mining production in October compared with that month last year.

Sectors with close links to mining also took a strain. Manufacturing, electricity, gas and water supply, and the construction industries did not add or reduce jobs in the third quarter, compared with the second.

Statistics SA’s QES survey shows that gross earnings paid to employees during the quarter amounted to R369.9 billion, reflecting a quarterly rise of R17.4 billion compared with the June quarter. Salary increases were the most likely reason for the strong jump in gross earnings paid to employees during the September quarter.

Source: BDlive. For more information, click here.