South Africa Economic Update, August 2015
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Washington, DC
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Global growth hit a soft patch at the
start of 2015. In the first quarter it slowed to 2.0
percent, quarter on quarter (q/q) annualized, from 2.3
percent in the fourth quarter of 2014. The slowdown was
reflected in a decline in global manufacturing activity, on
the back of weak industrial production and goods trade data,
especially in large emerging markets. Among high-income
countries, economic activity is strengthening. Euro Area
growth picked up to 1.6 percent in the first quarter of 2015
from 1.3 percent the previous quarter. Growth in Japan
accelerated to 2.4 percent in the first quarter from 1.1
percent in the previous quarter. For the second quarter,
despite the uncertainty surrounding Greece, the Euro Area
Composite PMI in July remained close to a four-year high.
Confidence indicators for the second quarter point to
further improvements, while indicators in Japan also suggest
continued, albeit moderate, growth.
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LIVING STANDARDS, JOBS, AVERAGE UNEMPLOYMENT, EMPLOYMENT, LABOR MARKET DEVELOPMENT, MONETARY POLICY, RISKS, HOUSEHOLD SURVEY, EMPLOYMENT RATE, UNEMPLOYMENT RATES, ECONOMIC GROWTH, PRODUCTION, AGGREGATE GROWTH, AVERAGE PRODUCTIVITY GROWTH, SKILLED WORKERS, PREVIOUS SECTION, INCOME, AVERAGE UNEMPLOYMENT RATE, SERVICE SECTOR, EMPLOYMENT OPPORTUNITIES, SKILLS DEVELOPMENT, EXPECTED UNEMPLOYMENT, LABOR FORCE, EXPORTS, HEALTH INSURANCE, JOBS CREATION, PUBLIC SERVICES, FISCAL POLICY, JOB, HOUSEHOLD ENTERPRISES, RISING UNEMPLOYMENT, TRAINING PROGRAMS, RETAIL TRADE, LABOR FORCE PARTICIPATION, INFLATION, WAGE GROWTH, JOB LOSSES, LIFE EXPECTANCY, TRENDS, DRIVERS, ECONOMIC OUTLOOK, WORK EXPERIENCE, DEVELOPMENT, DOMESTIC WORKERS, LABOR MARKET, WAGE BILL, EMPLOYMENT LEVELS, INFORMAL ECONOMY, EDUCATIONAL ATTAINMENT, LABOR–MARKET, LABOR PRODUCTIVITY GROWTH, WORKER, INCOME INEQUALITY, LABOR PRODUCTIVITY, PRODUCTIVITY, UNEMPLOYED, PRODUCTIVITY CONVERGENCE, DEBT, MARKETS, VOCATIONAL EDUCATION, BUSINESS CYCLE, LABOR, PUBLIC WORKS PROGRAMS, TOTAL EMPLOYMENT, WAGE INCREASE, SKILLED WORKER, FEMALE LABOR, PRODUCTIVITY GROWTH RATE, UNEMPLOYMENT, SKILL PREMIUM, CONSUMPTION, PRODUCTIVITY GROWTH, HUMAN CAPITAL, TRAINING SYSTEM, VOCATIONAL TRAINING, WORKERS, CAPITAL, UNEMPLOYMENT RATE, LABOR DEMAND, REAL WAGE, AVERAGE WAGE, COMPETITIVENESS, INCOME DISTRIBUTIONS, CLERKS, MACROECONOMICS, PRODUCTIVITY IMPROVEMENT, DEMAND, OCCUPATIONS, AGGREGATE DEMAND, INCOME DISTRIBUTION, PRIVATE SERVICES, UNION ACTIVITY, UNEMPLOYMENT INCREASE, ECONOMY, EMPLOYMENT GROWTH, JOB CREATION, LABOR RELATIONS, PRIVATE SECTOR, HOUSEHOLD CHARACTERISTICS, LABOR–MARKET REGULATIONS, PUBLIC WORKS, LABOR MARKET INDICATORS, LABOR MARKET PERFORMANCE, ECONOMIC SITUATION, SKILLED LABOR, MANAGEMENT, EMPLOYMENT IMPACT, TRADE, TROUGH, GDP, EMPLOYMENT GROWTH RATES, LABOUR FORCE, SKILLED OCCUPATIONS, CREATING JOBS, FEMALE LABOR FORCE, SUPPLY, HOUSEHOLD CONSUMPTION, LABOR INTENSITY, LABOR SUPPLY, HIGH UNEMPLOYMENT, UNSKILLED WORKERS, EDUCATIONAL LEVELS, PRODUCTIVITY GAINS, YOUTH UNEMPLOYMENT, LABOUR, LABOR MARKETS, UNSKILLED LABOR, PRIVATE SECTORS, SMALL BUSINESSES, PRICES, PRIVATE ENTERPRISE, EMPLOYEES