Millions of jobs are on the line, says economist
South Africa's coronavirus lockdown has placed between three million and seven million jobs on the line.
"Already, there are 2.1 million people being paid by the UIF. Most of them temporary, but it's likely that many of those temporary job losses will become permanent," says Economist Mike Schussler.
"The damage that we are seeing in the economy - on the job side - takes a while to show up. You don't see all the damage in the first month or two; you can see it up to six to 10 months later."
Only essential personnel were allowed to work under the total lockdown that lasted over a month.
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When it shifted to level four last Friday - some businesses were permitted to reopen but with strict measures.
Schussler says companies seeking business rescue can help their employees obtain UIF.
"Business rescue is not always the end, but very often, it does expose the problem that there are. We have since at the moment a massive abnormal event which we won't see in our lifetimes again. This is very scary for most of us. People are losing their jobs."
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