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SA’s informal sector sheds 65 000 jobs between 2008 and 2014
SA’s informal sector sheds 65 000 jobs between 2008 and 2014

SA’s informal sector sheds 65,000 jobs between 2008 and 2014

JOBS NEWS

bdlive.co.za - Feb 6th 2015, 10:45

SA’s informal sector, which mostly employs the unskilled and those with little education, shed jobs between 2008 and last year while the formal sector added jobs, Statistics SA said in a labour report on Tuesday. 

The agency said the formal sector added 690 000 jobs to 10.755-million employees between 2008 and last year while the informal sector shed 65 000 jobs to 2.379-million employees over the same period.

It said that although the formal sector accounted for the vast majority of jobs for each population group, the informal sector played a more important role among blacks, coloureds, and Indians/Asians than among whites.

Youth aged between 15 and 24 were most active in the informal sector when compared with other age groups.

Data also show that the level of education matters in terms of which sector people will be employed in. The education profile of those employed in the formal sector is substantially better than those in the informal sector, Stats SA said.

"One in every three employed persons in the formal sector has completed matric and an additional 23%-27% have a tertiary qualification," Stats SA said.

"In contrast, in the informal sector only 19%-26% have completed matric while less than 7% have a tertiary qualification".

The services and trade industries dominated employment opportunities available in both the formal and informal sectors between 2008 and last year. Most of the jobs created in the informal sector last year were in the trade industry.

The informal sector comprises employees working in establishments with fewer than five employees, who do not have income tax deducted from their salaries or wages, according to Stats SA.

Own-account workers and persons helping unpaid in their household business who are not registered for either income tax or value-added tax are also included in the informal sector.

The formal sector mainly takes into account bigger tax-paying businesses.From DFM Publishers (Pty) Ltd 

Read more about: south africa | matric | employment

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