• In the market

    In the market

    Over the past few decades, South Africa’s economy has undergone changes in structure – shifting from a focus on mining and manufacturing industries to those of skills and services.

    A report conducted by the country’s Institute of Race Relations shows that in 1990, mining and manufacturing accounted for 12.9% and 28.7% respectively of formal employment. In 2017, however, mining accounted for just 4.9% and manufacturing 12.3%, while jobs in the more skilled sectors make up the bulk of South Africa’s formal employment. These include finance (22.6%), trade (21.8%) and community, social and government services (26.9%).

    According to the report, an increase in people with a tertiary education resulted in skilled employment growing more than 56% between 2001 and 2017, with low-skilled employment rising by 19.5%. The labour market absorption rate for people with a tertiary education has also seen 75.6% growth, compared to just 32% for those with just a primary school education.

    14 November 2017
    Image: Gallo/Getty Images