South African job losses could reach one million in second quarter

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Job losses for the second quarter of 2020 could be close to one million - near the total number of jobs lost in the first 12 months of the global financial crisis of 2008/09.

Statistics South Africa (Stats SA) is scheduled to release its quarterly labour force survey for the second quarter on Tuesday. It was during the second quarter that lockdown restrictions due to the Covid-19 pandemic were the strictest, forcing the majority of South Africa's businesses to close. Under lockdown Level 5 in April, for example, only essential services were allowed.

The impact of strict lockdown on economic activity has already been reflected in the second quarter's GDP figures, which showed a contraction of 51% on a quarter-on-quarter annualised basis, or 16.4% on a non-annualised basis.

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