Rethinking growth-unemployment puzzles in the COVID-19 recession: contextualising SA's macroeconomic policy options
OUTPUT TYPE: Journal Article
PUBLICATION YEAR: 2020
TITLE AUTHOR(S): P.Jacobs, P.Lekomanyane, K.Nyezi
KEYWORDS: COVID-19, ECONOMIC GROWTH, ECONOMIC RECESSION, UNEMPLOYMENT
DEPARTMENT: Equitable Education and Economies (IED)
Web link: http://www.hsrc.ac.za/en/review/hsrc-review-july-2020/growth-unemployment-in-covid-recession
Print: HSRC Library: shelf number 11510
HANDLE: 20.500.11910/15400
URI: http://hdl.handle.net/20.500.11910/15400
If you would like to obtain a copy of this Research Output, please contact Hanlie Baudin at researchoutputs@hsrc.ac.za.
Abstract
The total value of goods and services produced inside South Africas borders fell steeply in the last two quarters of 2019, resulting in a sharp rise in unemployment. The governments latest macroeconomic reforms to lift the country out of the 2019 economic downturn and create sustainable jobs are unlikely to deliver immediate benefits. Interventions promised in the recovery plan will take time to cascade through complex economic sectors, agencies and diverse markets before the jobless at the bottom of the socioeconomic pyramid experience any life improvements. Meanwhile the global COVID-19 pandemic is pulling leading economies into a slump worse than the Great Recession of 2007-2009.-
Related Research Outputs:
- Emerging markets and the global recession
- Can South Africa's employment targets be met in the context of the global economic crisis?
- The potential impact of the global financial crisis on South Africa
- Promoting economic development & capacity through procurement
- Employment in the development path
- Can infrastructure spend offset consumer slump?: balancing the deficit
- Macroeconomic stimulus packages and income inequality in developing countries: lessons from the 2007-9 great recession for the Covid-19 crisis in South Africa
- R&D the biggest business casualty of Covid-19?
- Employment and employability: expectations of higher education responsiveness
- Africa's young majority
- Poverty and inequality reduction strategies for South Africa
- A typological of the unemployment: a policy-orientated approach
- Nature-based tourism on communal land: the Mavhulani experience
- Migration and employment
- Differential access to finance capital, communications technology and capital goods in Lesotho
- Gauteng: labour market situational analysis
- Corporatism and economic growth: a case study of the National Economic Development and Labour Council (NEDLAC) in South Africa
- The consolidation of democracy in South Africa
- Unemployed youth in South Africa: the distressed generation?
- Jobless or job creating growth?: some preliminary thoughts