Economic Week Ahead
ECONOMIC WEEK AHEAD: Unemployment data shock looms
Third-quarter number is expected to reflect a rate well above 30%
The big economic focus this week will be on unemployment with the release of third-quarter data expected to take SA’s official unemployment rate to at least 32%, which would be the highest rate on record.
In the second quarter, the unemployment calculation was heavily distorted by the impact of the pandemic, as lockdown rules prevented people from looking for work. This artificially reduced the size of the economically active population and, with it, the size of SA’s unemployment crisis...