Stats SA needs to review how economy is measured: Cosatu

Stats SA needs to review how economy is measured: Cosatu

The Congress of South African Trade Unions (Cosatu) says although the country's recent GDP numbers reflect a positive effect of reopening the economy, the reality is that the country is still riddled by an unemployment crisis.

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Cosatu was reacting to the announcement by Stats SA on Tuesday that the country's economy expanded by 1.2 % in the second quarter of 2021.

The economy is, however, 1.4% smaller than it was before the Covid-19 outbreak.

Cosatu spokesperson Sizwe Pamla says it’s important that vaccination numbers be improved to avoid another wave of infections if the economy is to be stabilised properly.

"How we need to measure the economy is looking at who the people are. If you look at the wages that have been frozen all across. If you look at the highest unemployment rate on record, it tells you that South Africans are really in a penniless stage.

“So these numbers are really just a sign that we need to fast track vaccinations so that we can avoid periodical lockdowns.”

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