×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The latest quarterly labour force survey from Stats SA is a shocker. It finds that unemployment rose to a record high above 35% in the fourth quarter despite an increase in jobs, because so many more folk were looking for work. It shows, too, that employment declined by more than 3% in 2021 even though the economy recovered from the worst of Covid to grow by almost 5%. Total job losses since the start of the pandemic stand at almost 2-million.

The picture of a jobless recovery may be plausible. Employers might have realised during the lockdown that they could produce the same with fewer workers, so retrenched as the economy opened up. Some companies just couldn’t hold on any longer as the lockdowns continued...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now