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The formal sector of the economy has continued to shed jobs, according to the latest figures.
Statistics South Africa (Stats SA) data shows 16 000 jobs were lost in the third quarter.
The job losses were largely in the productive sectors of the economy namely, manufacturing, construction and mining.
Other sectors that shed jobs were trade, transport and community services. An increase in employment was recorded in the business services industry.
“Even if the jobs are shed people continue to get increases. From September quarter, you will see this overtime payment and bonuses contributing to the overall wage bill,” says Matlapane Masupye of Stats SA.
