Public Works and Infrastructure Minister, Dean Macpherson, says he is pleased to see the construction sector rebounding.
The sector saw the largest job increases out of all sectors between Quarter 2 and Quarter 3, according to the Quarterly Labour Force Survey, released on Tuesday.
The construction sector added 176 000 jobs, with the country’s unemployment rate decreasing by 1.4%.
Macpherson said this shows that there are many green shoots within the construction industry, with additional reforms underway to increase investment and jobs.
According to Statistics South Africa, who released the Quarterly Labour Force Survey, South Africa’s unemployment figures have now decreased to 32.1% in the third quarter.
“While the unemployment figures remain stubbornly high, I am encouraged by the job growth seen in the construction sector which has shown that there are many green shoots within the industry. As we implement continued reforms to turn South Africa into a construction site, I look forward to the industry creating many more jobs which will improve the lives of our people,” Macpherson said.
“After many years where the construction industry has seen subdued investment, it is also very encouraging to see that the industry is starting to turn around as additional projects get off the ground.
“This is also a sign of confidence in proceeding with fixed investment projects. We are truly starting to build a better South Africa through building confidence in our construction industry,” the minister said.
Among the many interventions the Minister is implementing to attract additional infrastructure investment include:
- Restructuring Infrastructure South Africa (ISA) to become a single port of entry for all major infrastructure projects in South Africa.
- Reforming regulations around Public Private Partnerships (PPPs) to make it easier for the private sector to invest in construction projects.
- Expanding the role of the Infrastructure Fund (IF) to play a bigger role in attracting additional private sector funding and blended financing to construction projects.
- Introducing the first-of-its-kind project preparation financing which will see more construction projects being executed faster.
“Collectively, the measures we are implementing will see a significant increase in the number of construction projects in the country as we work to achieve our goal of turning South Africa into a construction site.
“In the weeks and months ahead, South Africans can look forward to seeing more cranes in the sky, and shovels in the ground. We are building South Africa,” Macpherson said. – SAnews.gov.za
