South Africa Loses 2.2 Million Jobs in Second Quarter of 2020 Due to Hard Lockdown

Zonk News - South Africa Loses 2.2 Million Jobs in Second Quarter of 2020 Due to Hard Lockdown
Job loss due to COVID-19 virus pandemic concept. Unrecognizable man holds sign "I lost my job because of coronavirus." Male sitting on stairs of building, former place of work in business center

data released by Statistics South Africa (Stats SA) on Tuesday revealed that South Africa’s economy lost about 2.2 million jobs in the second quarter of 2020.

The latest figures showed that there are only 14.1 million employed people in the country-the lowest since 2011. Stats SA said the hard lockdown measures implemented across the country in March contributed to the decline in unemployment stats.

The unemployment declined to 23.3 per cent in the second quarter from 30.1 per cent in the first quarter.

“This sharp fall in the unemployment rate in quarter two is not a reflection of an improvement in the labour market but rather an effect of the national lockdown,” the Quarterly Labor Survey report said.

All the major industries recorded huge declines in unemployment.

A total of 515,000 jobs were lost in the community and social sector. The trade sector jobs decreased by 373,000, while private households shed over 311,000 jobs and finance lost 283,000 jobs.