The ongoing COVID-19 pandemic, and the policy measures to combat it, are having profound effects on the economic and social lives of citizens. They are threatening employment as well as the long-term livelihoods and well-being of millions around the world.
South Africa has not been exempted from the socio-economic effects of the pandemic. Its economy has been in decline since it entered a stringent lockdown as the main public health response to curb the spread of the virus in March 2020. This is reflected in its latest available statistics for both gross domestic product (GDP) and employment.
The country’s economy wasn’t in great shape even before the lockdown. It was hit hard by the global financial crisis in 2008, recording average growth just above 2% between 2008 and 2012. And now the National Treasury has forecast that the economy will contract by 7.8% in 2020 due to COVID-19 measures.
Citizen reporter This brings the total number of persons employed in the formal non-agricultural sector to approximately 9.6 million. Unemployed workers can be seen on a street corner looking for odd jobs in Centurion on 14 July 2020.. Picture: Jacques Nelles
The QES results – which are based on a sample survey – published on Tuesday, showed that the latest figures bring the total number of persons employed in the formal non-agricultural sector to approximately 9.6 million.
However, formal sector jobs decreased by 616,000 in the third quarter, year-on-year according to the report.
Source: Stats SA
According to Stats SA, the increase in employment was due to gains in the trade (31,000), community services (26,000), construction (21,000) and manufacturing industries (8000).