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Citation Information

Type Conference Paper - TIPS conference 27-29 October 2010, Indaba Hotel and Conference Centre Johannesburg, South Africa
Title The global financial crisis and South Africa: What has been the impact on the labour market?
Author(s)
Publication (Day/Month/Year) 2010
City Johannesburg
Country/State South Africa
URL http://wiego.org/sites/wiego.org/files/publications/files/Verick_The_global_financial_crisis_and_sou​th_africa_Sher_Verick.pdf
Abstract
The global financial crisis of 2007-2009 deeply impacted South Africa resulting in almost 900,000 (net) job losses. Rather than translating into a surge in official unemployment, the main effect of the downturn has been a rise in discouragement, particularly for uneducated black South Africans. For this reason, the key challenge for policymakers is to develop effective interventions that increase job search, especially among the unskilled. Overall, the empirical findings highlight the need to look at the impact of the crisis on all labor force states and the role of socio-economic characteristics in driving vulnerability in the labor market.

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