[Podcast] Morning Express – The Economic Report – 07 October 2020

The South African economy shed 2,2 million jobs in the second quarter of 2020, according to the latest Quarterly Labour Force Survey Quarter 2: 2020 results, released by Statistics South Africa on 29 September 2020.

The results indicate that the number of employed persons decreased by 2,2 million to 14,1 million in the 2nd quarter of 2020 compared to the 1st quarter of 2020. This unprecedented change is the largest quarter 1 to quarter 2 decline since the survey began in 2008. Contrary to what one would expect in the face of such a large decline in employment, the number of unemployed persons declined substantially as well – by 2,8 million – to 4,3 million compared to Q1: 2020. In spite of this massive decline in employment, the number of discouraged work-seekers, like the number of unemployed, decreased by 447 000.  The majority of those who moved out of these three categories moved into the category of not economically active for reasons other than discouragement, which increased by 5,6 million between the two quarters.

We talk to Mr Tshetlhe Litheko about this report from Statistics South Africa, in order to understand the way unemployment is reported in South Africa and the role and impact that this manner of reporting has on the country’s socio-economic well being.

  1. The Economic Report - 07 October 2020 Tshetlhe Litheko on Morning Express

 

 

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