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The latest employment statistics for the third quarter of 2024 show that there were fewer jobs in the third quarter of 2024 than in the third quarter of 2023. However, salaries and bonuses paid to employees increased compared to the year before.
Total employment decreased by 133 000 or 1.2% compared to the second quarter from 10 738 000 jobs in June 2024 to 10 605 000 in September 2024, largely due to job losses in community services (-131 000 or -4.3%), business services (-15 000 or -0.6%), manufacturing (-4 000 or -0.3%), transport (-3 000 or -0.6%), mining (-2 000 or -0.4%) and electricity (-1 000 or -1.6%).
However, more jobs were created in trade (19 000 or 0.8%) and construction (4 000 or 0.7%).
Total employment decreased by 294 000 or 2.7% between September 2023 and September 2024.
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Full-time employment decreased by 14 000 or 0.1% in the third quarter compared to the second quarter of the year from 9 468 000 jobs in June 2024 to 9 454 000 in September 2024, largely due to a decrease in:
However, more full-time jobs were created in trade (17 000 or 0.8%) and construction (3 000 or 0.6%). The electricity industry showed no change.
Full-time employment decreased by 44 000 jobs or 0.5% between September 2023 and September 2024.
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Part-time employment increased by 119 000 jobs or 9.4% compared to the second quarter from 1 270 000 jobs in June 2024 to 1 151 000 in September 2024 due to more jobs created in business services (7 000 or 3.2%), trade (2 000 or 0.8%), construction (1 000 or 1.5%) and manufacturing (1 000 or 1.2%).
However, there was a decrease in jobs in community services (-128 000 or -20.3%), electricity industry (-1 000 or 50.0%) and transport (-1 000 or -5.0%).
Part-time employment decreased by 250 000 jobs or 17.8% between September 2023 and September 2024.
Gross earnings paid to employees increased by R12.2 billion or 1.3% from R954.1 billion in June 2024 to R966.3 billion in September 2024, largely thanks to an increase in business services, community service, mining and electricity. However, there was a decrease in trade, transport, manufacturing and construction.
Employees’ gross earnings increased by R24.9 billion or 2.6% between September 2023 and September 2024.
According to Statistics SA basic salaries or wages paid to employees increased by R6.7 billion or 0.8% from R871.6 billion in June 2024 to R878.2 billion in September 2024 thanks to an increase in trade, mining, manufacturing, business services, construction, electricity and transport. However, there was a decrease in the community services industry.
Basic salaries or wages increased by R28.7 billion or 3.4% between September 2023 and September 2024.
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Bonus paid to employees increased by R6.9 billion or 12.9% from R53.8 billion in June 2024 to R60.7 billion in September 2024, mainly thanks to an increase in business services and community services. However, there was a decrease in trade, manufacturing, construction, transport and electricity.
The year-on-year bonus payments decreased by R4.5 billion or 6.8% between September 2023 and September 2024.
Employees also earned less overtime, with Statistics SA saying overtime paid to employees decreased by R1,4 billion or 4.8% from R28.7 billion in June 2024 to R27.3 billion in September 2024, largely due to a decrease in manufacturing, trade, business services, transport and electricity. However, there was an increase in community services and construction.
Overtime payments increased by R0.6 billion or 2.4% between September 2023 and September 2024.
Average monthly earnings paid to employees increased by 2.6% from R27 511 in May 2024 to R28 220 in August 2024 and by 6.6% between August 2023 and August 2024.
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