Mining sector employment holds up well despite first-quarter decline
Following five uninterrupted quarters of job gains, employment in the mining sector declined during the first quarter of this year, the Minerals Council South Africa reports.
Citing Statistics South Africa's latest quarterly employment statistics, the council points out that formal mining sector employment decreased by 2 356 jobs in the first quarter, compared with the fourth quarter of 2023.
Despite this, there were still 3 500 more people employed in mining during the first three months of this year, compared with the same period in 2023 – a 0.7% year-on-year increase.
"While employment was up year-on-year, the quarterly decline is indicative of the operational and profitability pressures currently experienced in important subsectors of mining. These include the platinum group metals sector, which is grappling with depressed prices, and the bulk commodity (mainly coal and iron-ore) industries, which continue to be undermined by Transnet's rail and port inefficiencies.
"Despite the much-needed relief provided by the absence of electricity load-curtailment since April, these sectors are likely to remain under pressure for the foreseeable future. This implies a risk of additional mining sector job losses in the next several quarters," says Minerals Council chief economist Hugo Pienaar.
The council also highlights that mining sector employment was 6% higher in the first quarter than in the fourth quarter of 2019, before Covid-19-related lockdowns were implemented, meaning that employment in the sector is holding up well.
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