Greatest economic impact of Covid 19 is massive job losses

Michael O’ Donovan reviews trends of several indicators to see the impact that Covid-19 had on the economy. Many of the indicators show a significant decline at the time of the lockdown but have largely recovered. These indicators include electricity consumption, the Rand/US$ exchange rate, mobility index and the JSE All Share Index (ALSI). A number of other indicators such as motor vehicle sales and property sales/rentals are continueing to show the impact of Covid-19. However, the massive loss of jobs on top of the recession is the main indicator showing that the South African economy has taken a big knock from Covid-19.

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