Private sector jobs increase

STANBIC Bank chief economist Victor Chileshe says the rate of job creation in the private sector in Zambia has increased in the last two years as workload attracts extra staff.

Releasing findings of the bank’s latest Purchasing Managers Index (PMI) report, Mr Chileshe, who is also head of global markets, said recent improvements in the private sector business conditions have been sustained amidst increases in output and new orders.

He said companies reacted to higher workloads by taking on extra staff to the greatest extent in over two years.
“Meanwhile, cost inflation remained historically muted. This enabled companies to lower their output prices as part of the efforts to attract customers.
“Zambian companies continued to raise output, with higher sales being the..

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