Economist warns against permanent Covid-19 job losses
SA has among the highest rates of unemployment in the world
There is a danger that employment losses due to the Covid-19 epidemic will become permanent, causing the rate of unemployment to be significantly raised for years to come, warns a new academic pape (https://covid19economicideas.org/2020/05/26/policy-brief-top-covid-19-policy/)r published by the Covid-19 economists group.
SA has among the highest rates of unemployment in the world, at 29% on the narrow definition, which does not count as unemployed those who have given up looking for employment. It is also, according to the World Bank, the most unequal society in the world with the biggest disparities between the rich and poor.