More jobs in manufacturing, less in trade

Employment in manufacturing rose year-on-year in the past quarter, while it decreased in the wholesale and retail trade sector.According to the BoN’s latest Quarterly Bulletin, the manufacturing sector employed 0.9% more workers in the past quarter compared to the same period in 2022.In contrast, the wholesale and retail trade sector witnessed a decline, with employment dropping by 0.8% year-on-year (y/y).The downturn in the wholesale and retail trade sector was particularly pronounced in clothing and vehicle subsectors, the BoN said.On a quarterly basis, the manufacturing sector continued its upward trajectory, registering a 1.7% increase in employment. Meanwhile, the wholesale and retail trade sector faced a 0.3% decline in employment during the same period.WagesThe wholesale and retail trade sector saw substantial growth in nominal wage bills and average wages on a yearly basis, increasing by 5.9% and 4.7%, respectively. This uptick aligns with the sustained growth in real turnover within the sector during the quarter, indicating consistent consumer demand for goods, according to the BoN.However, on a quarterly basis, while the nominal wage bill increased by 3.2%, average wages experienced a 1.5% decrease.Similar wage dynamics were observed in the manufacturing sector during the past quarter. Y/y, the nominal wage bill and average wages in the manufacturing sector rose by 2.2% and 1.3%, respectively. However, on a quarterly basis, the nominal wage bill increased by 0.8%, while average wages saw a slight decrease of 0.9%.Unit labour costsA critical factor affecting the manufacturing sector's competitiveness in the export market is the unit labour costs. In the past quarter, the manufacturing sector faced a substantial y/y increase of 10.6% in unit labour costs, primarily driven by a decline in output per worker and increased average wages in various subsectors, according to the BoN. However, quarter-on-quarter, there was a marginal decrease of 0.6%. This rise in unit labour costs poses challenges to the competitiveness of Namibian products in the global export market, the BoN said.

More jobs in manufacturing, less in trade

Comments

Namibian Sun 2025-07-02

Please login to leave a comment

More jobs in manufacturing, less in trade

Comments

Namibian Sun 2025-07-02

Please login to leave a comment

Login