Job outlook: who’s hiring, firing, earning big; Tesla in China; great white spotted

By Jackie Cameron

  • It’s set to be harder than any time in the last five years to get a job in South Africa. That’s the message from statistics gathered by the Manpower Group SA, which has surveyed business owners on their hiring and firing plans for 2020. “As we move into the new year, the South African economy continues to be affected by subdued economic growth and a sluggish growth outlook. Policy uncertainty and a high unemployment rate remain a deep concern for local businesses who are looking to the new year with caution when it comes to their spending and hiring strategies,” says Lyndy van den Barselaar, Managing Director of ManpowerGroup SA. You’re most likely to find a job in the Western Cape, which has the most positive outlook for employment, according to the company. “The strongest hiring pace is forecast in the Finance, Insurance, Real Estate & Business Services sector, where the Net Employment Outlook stands at +9%. Some hiring opportunities are expected in the Wholesale & Retail Trade sector and the Agriculture, Hunting, Forestry & Fishing sector, with Outlooks of +7% and +5%, respectively, while the Restaurants & Hotels sector Outlook is +4%.” Meanwhile, continues ManpowerGroup SA, employers in three sectors expect to trim payrolls, most notably reflected in Outlooks of -9% for the Construction sector and -6% for the Transport, Storage & Communications sector. More details available here.
  • More job losses loom for Zimbabwe, where inflation is soaring around 440% and the economy has been shrinking rapidly. Bloomberg says banks shed about 8% of their workforce last year, with more to come in 2020.  At least 300 of the 4,000 employees in the industry lost their jobs last year, according to the Zimbabwe Banks Allied Workers Union, more than five times higher than those dismissed in 2018. An economy that probably shrank 6.5% in 2019, an inflation rate of more than 440%, and a cash crisis that has seen foreign currency evaporate from the country is forcing banks to provide digital services.
  • The best income-earners on the planet are FTSE 100 CEOs and US company chief executives, with the pay between bosses and ordinary workers wider than ever. That’s according to a report on The Conversation, which sets out how the typical FTSE 100 CEO earned as much as the average UK worker earns in a year by 5pm on January 6 2020 – £29,559 for 33 hours of work (about R5m for four days of work). The data was compiled by the High Pay Centre think tank. By the close of the year, the same CEO would have reportedly earned £3.46m – roughly 117 times the average wage in the UK. This is a staggering differential. “If you believe that excessive executive pay is a problem, this statistic illustrates the point perfectly. These figures even represent a reduction from previous years, although this is due more to shrinkage in overall CEO pay than increases at the bottom. And UK CEO pay actually pales in comparison to their counterparts in the US, where levels topped $14.5m (£11.5m), representing a 287-1 differential with the average worker,” says The Conversation. Contrast this to just 40 years ago when the average CEO was paid 18 times the average salary, it says.
  • Looking to reinvent yourself in the 2020s? The next decade could see growing demand for behavioral scientists, data analysts, upcycled clothing designers and even digital detox consultants, says Bloomberg. Brexit, climate change, an economic slowdown and technology are among the factors that could have the greatest impact on jobs in the 2020s, according to the UK’s Royal Society for the encouragement of Arts, Manufactures and Commerce. Bloomberg highlights the Big Tech Economy as an area of opportunity in “a new machine age” where technology develops at a rapid pace, from self-driving cars to 3D printing, bringing cheaper goods but rising unemployment.
  • Tesla kicked off production in China, marking a major step in Chief Executive Officer Elon Musk’s global push for electric-vehicle domination and heralding what could be the dawn of real competition in the world’s largest EV market, says Bloomberg. Musk presided over a ceremony on Tuesday at a new multibillion-dollar plant near Shanghai – its first outside the US – where the American company handed over the first China-made Model 3 sedans to the public, the first one being a white sedan going to a man from the nearby city of Wuxi. Tesla is storming into China with prices that aren’t much higher than those local manufacturers such as NIO and Xpeng Motors, while undercutting global giants such as BMW and Daimler, says Bloomberg.
  • The first great white shark in 20 months has been spotted in False Bay off Cape Town, easing concern that the predatory fish that attract tourists had left the region, reports Bloomberg. The shark was spotted by the operator of a cage diving operation off Seal Island, said Gregg Oelofse, who oversees coastal management for the City of Cape Town. “One has got to be cautious,” he told Bloomberg, noting that it’s just one shark and the animals are more commonly seen in the middle of the year. Still, “we are very happy there has been a sighting.”The disappearance of the sharks had caused concern in Cape Town as their presence was the main draw card for tourists paying for cage dives. The reasons for their absence are unclear but scientists, says Bloomberg, have theorised that it could have been be due to the presence of two orcas known as Port and Starboard who prey on the sharks, over-fishing of prey species or climate change.
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