Cape Town - South Africans should brace themselves for significant job losses in the next few months as a result of disruptions caused by Covid-19.
Senior economist at FNB Siphamandla Mkhwanazi said: “The outlook on global and domestic economic growth has deteriorated materially since the outbreak of Covid-19. "As a result, we expect significant job losses in 2020, which bodes ill for household income and their ability to spend,” Mkhwanazi said. "In 2009, when the gross domestic product fell by 1.5%, South Africa lost about 800 000 jobs.The recession is likely to be much deeper this year and could also trigger big job losses, particularly in the private sector and specifically in smaller and medium-sized firms that may not have the balance sheet to absorb the effects of the Covid-19 shock.”
TheCapeArgus You don't say! Saying the obvious
TheCapeArgus SizweDhlomo said it 😓
TheCapeArgus Or because the minister of health locked down a country based in his admitted wrong analysis
TheCapeArgus This is terrible.
TheCapeArgus Job losses is better than life losses, please stay at home
TheCapeArgus People have been bracing for that for years now. Already experts at it
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19 LIVE UPDATES | Day six: Keeping you informed with the latest on Covid-19Tributes have been pouring in from around the world for internationally acclaimed scientist, academic and women's rights campaigner Prof Gita Ramjee who died in a Durban hospital of Covid-19 complications on Tuesday.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Five deaths in SA as Covid 19 cases rise to 1,353The number of Covid-19 cases in SA has risen to 1,353, health minister Dr Zweli Mkhize said on Tuesday afternoon. The curve gradually flattening, lets stay home Worst is coming,your lies saying South Africa is ready for corona.Ramaphosa is shocked as always,with corona deaths. We are containing it and we will defeat this virus
Source: SowetanLIVE - 🏆 13. / 63 Read more »
WATCH LIVE | Zweli Mkhize gives update on Covid-19 cases in SAHealth minister, Dr Zweli Mkhize, is giving an update on Covid-19 cases in SA.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Five deaths in SA as Covid-19 cases rise to 1,353Five people have died and the number of Covid-19 cases in SA has risen to 1,353, health minister Dr Zweli Mkhize said on Tuesday. We have 57million people and only 1353 so to me lock down has helped us a lot, may God start to decrease that number wth people recovering from corona amen🙌🙏 There is increment every day. This is worrisome, but trust testing from home strategy We done and finish
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: eNCA - 🏆 49. / 51 Read more »