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Unemployment falls sharply to 23.3% as South Africans lose hope of finding work

29 September 2020 12:33 PM
Tags:
Cosatu
Economy
Recession
Unemployment
Stats SA
Statistics South Africa
Matthew Parks
Quarterly Labour Force Survey
unemployment rate
Lester Kiewit
The Midday Report on CapeTalk

"When including discouraged jobseekers, the unemployment rate shot up to 42%," says Cosatu’s Matthew Parks.

Statistics South Africa released its dreaded Quarterly Labour Force Survey on Tuesday.

The shrinking economy shed 2.2 million jobs in the second quarter (Q2) of 2020.

The unemployment rate declined to 23.3% (from 30.1% in Q1/2020).

A young, unemployed man begs on the street. Image: 123rf.com

The official unemployment rate only includes people who are actively looking for a job but can’t find one.

When including discouraged jobseekers, the unemployment rate shot up to 42%.

Lester Kiewit asked Cosatu Parliamentary Coordinator Matthew Parks to respond.

Many of these lost jobs would’ve been workers of companies that couldn’t operate during the lockdown… Hopefully, those companies will get back on their feet…

Matthew Parks, Parliamentary Coordinator - Cosatu

You can’t write off people who have lost hope… Our economy is in its worse crisis in 100 years…

Matthew Parks, Parliamentary Coordinator - Cosatu

Tourism, hospitality, entertainment, restaurants… they’re going to take a long time to recover…

Matthew Parks, Parliamentary Coordinator - Cosatu

Listen to the interview in the audio below.


29 September 2020 12:33 PM
Tags:
Cosatu
Economy
Recession
Unemployment
Stats SA
Statistics South Africa
Matthew Parks
Quarterly Labour Force Survey
unemployment rate
Lester Kiewit
The Midday Report on CapeTalk

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