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NATIONAL NEWS & VIDEO - Even though some estimates have it that more than one million people will lose their jobs within the next six months because of Covid-19, it is not all doom gloom for job seekers.
“Sectors like banking and agriculture were initially hit hard by the various lockdowns but managed to recover quickly,” said economist Amelia Morgenrood of PSG Wealth.
“Certain sectors in the building industry, as well as the financial industry reported record profits despite the volatile world economy.”
Morgenrood says businesses that managed to take their operations online also did very well despite an economy that is performing poorly.
Although unemployment is currently at an all-time high, some people might be able to carve out new careers if they take their expertise to other sectors, Morgenrood said.
She told Izak du Plessis which sectors employment seekers can turn to in the quest for a new career.
South Africa’s economy was hit extremely hard by Covid-19 and the various levels of lockdown, records from the SA Reserve Bank show.
The bank released its quarterly bulletin for March 2021 this week, which shows that the economy had made recoveries since the second quarter of 2020, while the country was in hard lockdown.
It shows that in terms of economic performance, it was one of the worst years.
This as the country’s economy suffered its second-largest annual contraction since 1920, according to their figures.
To add to the woes, Statistics South Africa says in its quarterly employment survey that the formal sector lost more than 594 000 jobs in the past four years, a situation that was excelled by Covid-19.
Furthermore, it looks like more than a million employees will get their marching orders in the next six months, according to the BeyondCovid-survey conducted by Redflank.
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