Jobs relentless bloodbath: unemployment rate now highest since 2008
While South Africans were optimistic that the economy was beginning to recover during the fourth quarter of 2020, new unemployment figures from Stats SA show that it was not, with another 701,000 people losing their jobs.
A total of 11.1 million people are now unemployed in the country.
A total of 1,397 million people lost their jobs in 2020, with the unemployment rate now at 32.5%, compared with 30.8% in the third quarter. Compared to a year ago, the number of unemployed increased by 7.5% (507,000), while the number of non-economically active people increased by 9.5% (1.5 million).
Professor Jannie Rossouw from Wits Business School says she is concerned that the unemployment rate will continue to rise, because this means that …