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The Quarterly Employment Statistics published by Statistics South Africa on Tuesday (28 September) show that an additional 86,000 jobs were lost in the formal non-agricultural sector in the second quarter of 2021, with economists warning that the cuts will have significant knock-on effects. The data shows that total employment in South Africa decreased from 9,652,000 in March… Continued

Experts have warned that the Covid-19 pandemic will leave deep scars in the global economy, with middle-income families expected to shoulder the brunt of the impact. While $26 trillion worth of crisis support and the arrival of vaccines have fueled a faster recovery than many anticipated, the legacies of stunted education, the destruction of jobs, war-era levels of… Continued

Financial experts have seen an uptick in debt-related queries over the past few months as the effects of the country’s lockdown are still being felt, with the middle-class particularly hard hit. The number of people in debt who are relying on their credit to stay alive has sky-rocketed, leaving the South African economy teetering on… Continued

South African households are likely to start to feeling the pinch from surging petrol and paraffin prices, marked increases in excise duties on alcoholic beverages and tobacco products, and below-inflation increases in the monetary values of social grants. Commenting on the latest FNB/BER consumer confidence index (CCI), chief economist at FNB Mamello Matikinca-Ngwenya said that… Continued

South African motorists and businesses are going to be hit with petrol price increases in March – while fuel tax hikes in April, the rising cost of electricity courtesy of Eskom, and low business confidence will going to keep the pressure on the country’s already battered economy. Small and medium-sized businesses (SMEs) face a particularly… Continued

A likely rise in bankruptcies, electricity supply constraints, a poor jobs outlook, and material fiscal constraints, do not set South Africa’s expected economic recovery on a good path, says Sanisha Packirisamy, economist at Momentum Investments. In a note on Tuesday (5 January), Packirisamy said that a resurgence in Covid-19 cases and tighter restrictions could also… Continued

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