BUSINESS MAVERICK: More damage to South Africa’s labor market as unemployment hits a new record
Hundreds of people queue to enter the Department of Labor in Cape Town on the morning of Thursday, January 14, 2021. (Photo: Ashraf Hendricks)
According to Statistics SA, the country’s official unemployment rate during the fourth quarter of 2020 increased by 1.7 percentage points from the previous quarter to a record 32.5%.
SA’s official unemployment rate hit a new high in the fourth quarter of 2020, and signs emerged that, although the Covid-19 lockdown rules were substantially relaxed over the period, the country’s labor market faces permanent and worrying damage. .
Although many sectors of the economy were open during the fourth quarter, which paved the way for economic activity to recover and the unemployed to seek work, the unemployment crisis in SA …