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• Create Date June 27, 2023
• Last Updated June 27, 2023

Quarterly Employment Statistics: Construction 2023Q1

Formal employment in the construction industry, according to the latest quarterly employment statistics, fell to a new low of 507 000 in the 1^st quarter of 2023, representing a year-on-year contraction of 5.1 percent.  Total formal employment in the non-agricultural sector contracted by 1 percent to 9 970 000 and compared to other sectors in the economy, the construction sector is once again the hardest hit.  By comparison the mining sector expanded by 4.1 percent y-y, that is surprising giving the average 4 percent contraction in mining production (including Gold) during the 1^st quarter. The weaker currency has, however, supported export values, but as commodity prices are falling, without sustained increase in production higher employment is not sustainable.

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