BusinessLive reports that SA’s unemployment rate rose to 30.1% in the first three months of 2020, reaching its highest level on record.  

The rise in joblessness was up from the 29.1% seen in the fourth quarter of 2019, Stats SA reported in the latest Quarterly Labour Force Survey (QLFS) on Tuesday.  Using the expanded definition of unemployed, which includes discouraged work seekers or people who have given up looking for a job, unemployment rose to 39.7% in the first quarter.  Most industries experienced job losses in the first quarter, with the finance sector shedding the most jobs, followed by community and social services, agriculture and transport.  The increase in joblessness came largely in the months before the national Covid-19 lockdown measures, which came into effect on 27 March and all but halted economic activity.  Though the economy began reopening at the start of June, the damage is expected to be deep.  Several companies such as petrochemicals producer Sasol, retailer Edcon, mobile operator Cell C, and the state-owned SABC have announced intentions to lay-off workers.

• Read the full original of the report in the above regard by Lynley Donnelly at BusinessLive

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