Formal employment is stagnant ahead of pandemic’s peak
Stats SA quarterly employment statistics show little change in the first quarter
Stagnant performance in formal sector employment during the first quarter of 2020, as reported by Stats SA on Tuesday, is the calm before the Covid-19 storm.
The pandemic and the economic lockdown accompanying it could potentially cause an estimated 1.5-million jobs losses by the end of 2020, according to Business for SA. The group expects the economy to contract between 8% and 10% and take a minimum of two years before it recovers to pre-coronavirus levels...