Record unemployment numbers expected

IQ's chief economist Sifiso Skenjana says the unemployment numbers are expected to further reflect the effects of the COVID-19 lockdown. Courtesy #DStv403

JOHANNESBURG - Stats SA will release the unemployment figures for the first quarter on Tuesday.

The unemployment rate is expected to reach a new high.

Economists say the jobless rate has most likely increased to a record 33.4 percent up from 32.5 percent in the final quarter of 2020.

READ: Unemployment rate for Q4 2020 rises to 32.5%

This translates to 7.2 million people who don't have work.

But under the expanded definition of unemployment, which includes people no longer looking for work, 11.1 million people are jobless.

IQ's chief economist Sifiso Skenjana says the numbers are expected to further reflect the effects of the COVID-19 lockdown.

Source
eNCA

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