The unemployment rate in South Africa soars to 30% as a result of the Covid-19 pandemic
Unemployment figures in South Africa have recently risen sharply as the country feels the economic impact of the Covid-19 pandemic.
Amidst its huge battle with Covid-19 and its attempt to contain the virus outspread, South Africa is suffering from the increasing rates of unemployment that has reached 30%, as many people have lost their jobs as a result of the current pandemic and the subsequent lockdown.
Throughout the first three months of the year, 350,000 joined the ranks of the unemployed, taking the total number up to 7 million jobless people in the country.
Most industries and sectors were seriously hit with consequences of the coronavirus outbreak, and witnessed a great deal of job losses, including banking, agriculture, and community services. According to the national treasury, a total of 1.8 million jobs could be lost as a result of the current pandemic, while unemployment might surge to 50% in the worst-case scenario.
The South African nation may experience another tough day on Wednesday as the finance minister Tito Mboweni is set to discuss the supplementary budget. He is expected to declare an unprecedented budget deficit and unmatched shrinkage in economic growth.
In light of the deteriorating economic conditions and people threatened to lose their jobs, Taxi workers went on a strike yesterday to express their dissatisfaction with the current situation and the way the government is resolving their issues.
The government offered a relief grant worth R5000 (257 euros) for each vehicle, which taxi workers found totally inadequate and unfair. They are set to hold talks with the government this week to discuss their issues.
Te recomendamos en English
- TAX SEASON 2021 IRS unemployment refund update: how to track and check its state
- CORONAVIRUS STIMULUS CHECKS How filing a tax return could help you get third stimulus check plus-up payments
- PERSONAL FINANCE Who qualifies for the Earned Income Tax Credit (EITC) in California?
- Serie A Pirlo: Cristiano Ronaldo happy to be substituted
- REAL MADRID Zidane to leave Real Madrid at the end of the season
- LA GALAXY ‘Chicharito’ Hernández scores his seventh goal of the season in MLS