S.African Economy taking massive hits due to lockdown: Unemployment at 32.5% all time high

(008274.77-E001840.93NAVRLOSUC20V)   

[South Africa's economy took a beating from hell thanks to dumb ass COVID. And I love it. You should see how many businesses have closed and all the negative effects. The ship is sinking. Torpedoed by dumb old Covid. Jan]

While the results from the Quarterly Labour Force Survey for the fourth quarter of 2020 showed that the number of employed people increased to 15 million, it also showed that the number of unemployed people increased to 7.2 million.

Picture: Flickr.com
Picture: Flickr.com

Eyewitness News | a day ago

JOHANNESBURG – South Africa’s unemployment rate increased to 32.5% in the fourth quarter of 2020 compared to the third quarter, according to data from Statistics SA.

While the results from the Quarterly Labour Force Survey for the fourth quarter of 2020 showed that the number of employed people increased to 15 million, it also showed that the number of unemployed people increased to 7.2 million.

The country has recorded the highest unemployment rate since 2008.

The rate has increased by 1.7 percentage points during the fourth quarter of last year.

This means there was a movement in the labour market which was proportionately more to the unemployed than for the employed where increases were also recorded.

According to the expanded definition of unemployment, the rate decreased by 0.5 of a percentage point to 42.6% in the fourth quarter.

Source: https://ewn.co.za/2021/02/23/sa-unemployment-rate-increased-to-32-5-in-q4-of-2020-stats-sa

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