Municipality: It could take 2 years to rebuild Durban’s economy
eThekwini says given the impact of the COVID-19 pandemic the spike in KZN's unemployment rate has come as no surprise.
According to Stats SA, it jumped from 14% in the third quarter last year to 20.-5% in the fourth quarter.
The national picture's also disappointing.
During the same period, the figure increased from 38% to 32.5%. The Municipality's Msawakhe Mayisela says the City's expected to lose more than R30 billion in income.
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It could take two years to rebuild eThekwini's economy, "We should also be straight forward or state categorically that it is not largely the responsibility of the city to create employment but the private sector also has a huge responsibility to ensure that it invests in the City so job opportunities are created."
