Adcorp employment index indicates employment decrease

Imogen Vollenhoven
11 February 2013

According to the Adcorp Employment Index employment in the country has decreased by 3.2 percent during the month of January.

Adcorp's labour market analyst Loane Sharp said the wholesale industry fell by 8.8 percent or 13 000 jobs while the retail industry fell by 17.4 percent or 4 000 jobs.

Sharp explains further that the South African economy needs to grow at least to 4 percent per annum just to absorb the half a million school leavers to join the labour market looking for work each year.

Sharp adds that at the same time the employment index indicated that tax invasion is on the rise in South Africa he adds that it needs to be kept in mind that only 1 percent of taxpayers pays 24 percent of all taxes to government.

Sharp said that in South Africa uniquely in the world there are very few distribution of tax incidents.