The report shows that the number of people with a job fell from 16.3 million in the first quarter of 2020 to 14.1 million in the second quarter − a decline of 2.2 million jobs.
What are the political risks associated with SA's high unemployment levels?
Key takeaways:
- The official unemployment rate fell to 23.3% in Q2 from 30.1% in Q1 — the number of people officially unemployed fell to 4 295 000 in Q2 from 7 070 000 in Q1.
- The expanded unemployment rate increased from 39.7% to 42% — the number of people unemployed under this definition stood at 10 259 000 in Q2, from 10 797 000 in Q1.
- The labour absorption rate fell to 36.3% in Q2 from 42.1% in Q1. In other words, just over a third of working age people in South Africa have a job.
- The proportion of the working age population classified as not economically active increased to 52.7% in Q2 from 39.7% in Q1.
- The negative consequences of the lockdown were felt more in the private sector than in the public sector.