41 000 jobs created in SA between March and June

By Staff Writer
According to Statistics South Africa, 41 000 new jobs were created during March and June of 2010. This is a sign that the country's lowest interest rates in over three decades are having a positive impact on the economy.

Banks, insurance companies, the real estate sector and the accounting profession were the front runners with job creation by creating 25 000 new jobs.

During the 2009 recession, one million people lost their jobs while a further 77 000 were let go at the start of 2010 but it seems as if though the tide is finally turning.

Kevin Links, an economist at Stanlib, explains: "We are seeing a little more consumer activity, a little bit more business activity, we know the economy has now been growing for a couple more quarters so I think the low interest rates are helping, businesses are expanding and at the margin just employing a few more people."

The manufacturing sector is however, still suffering and 17 000 have lost their job in this sector, something which could be attributed to the strong rand.

"It is hurting our exports at a time when we need export activity and I think more importantly it is hurting us as goods come into South Africa and compete against our own productive base, so ideally we need the rand to be weaker," says Links.

Recent Articles

Featured When to trade in your old car for a new one

You may have noticed that your car isn’t running as smoothly as it used to. This is particularly concerning if you’re hoping to sell it at a reasonable price, and buy yourself a modern alternative.

3 facts to consider when cancelling your contract

If you’ve ever had a relationship end in a bit of a mess, you’ll know that some people are more difficult to break up with than others. The pain, the push back, the back and forth – it can be a difficult process.

How long does debt reflect on your credit score?

If you’ve ever had debt that you didn’t manage well, you may have wondered how long the debt would remain, or be retained, on your credit score. This is known as a “retention period” and it is governed by the law.

Deals

Full Body Massage at Dembalicious Spa

Price: R99
When: Mondays to Sundays
Where: Johannesburg

Two-Course Asian Dining for Two

Price: R269
When: Mondays to Sundays
Where: Cape Town

One-Hour Yacht Cruise with Waterfront Charters

Price: R99
When: Mondays to Sundays
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions