Simnikiwe Hlatshaneni
Premium Journalist
3 minute read
30 Sep 2020
4:42 am

Brace for job loss unrest

Simnikiwe Hlatshaneni

Should the economy continue a steady recovery, more people would begin looking for work, increasing the chances of unemployment going up substantially.

Data on first-time filings for jobless benefits show 36.5 million US jobs have been destroyed since the onset of the pandemic. AFP/File/Olivier DOULIERY

A closer look at yesterday’s labour force survey betrays the deceptively positive spectre of a sharp drop in unemployment in the second quarter of 2020, experts say. The Statistics SA report shows that unemployment slowed 23.3% in the second quarter, a period characterised by devastating restrictions to economic activity because of the Covid-19 pandemic. At the same time, the economy was said to have lost 2.2 million jobs during this period, a figure which could make another dramatic change for the worse, come the end of the year, said economist Dr Philippe Burger. The survey’s results indicated the largest quarter-to-quarter...