Millions of jobs to be lost this year, SA government says
JOHANNESBURG –
The South African government has forecast that millions of jobs will be lost this year as the coronavirus (Covid-19) pandemic and the credit ratings downgrades weigh on the economy.
The South African government has forecast that millions of jobs will be lost this year as the coronavirus (Covid-19) pandemic and the credit ratings downgrades weigh on the economy.
In a presentation to parliamentary committees on finance today, the National Treasury said it projected that between 3 to 7 million will be shed as a result of the protracted nationwide lockdown.
Treasury said it estimated that approximately one-third of the resources that were productive in February had been idled, largely as a result of the domestic lockdown.
Source: iol.co.za
