NKC African Economics - Daily Brief - 17 November 2020

Nov 17, 2020

South Africa

After a marked drop in labour force participation resulted in the official unemployment rate falling to from 30.1% in Q1 to 23.3% in 2020 Q2, the latest figure for Q3 came in at 30.8%. The unemployment rate according to the expanded definition (aka the ‘broad’ unemployment rate), which includes discouraged work seekers (people who want a job but have not tried to find one), continued to rise, increasing from 42.0% in Q2 to 43.1% in Q3. The 543,000 in job recoveries in Q3 following the 2.2 million in job losses the previous quarter is concerning and reflects the gradual recovery we can expect following the coronavirus-induced economic devastation.

Read the full research briefing: https://www.linkedin.com/smart-links/AQHzVKfeU5g_lw

 


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