The crisis did not spare South Africa. Whereas employment showed an increase till the last quarter of 2008, a plunge set in thereafter. The economy shrank by an estimated 1.8 per cent with mining and manufacturing particularly hard hit showing a decrease in output of seven and twelve per cent respectively (Gordhan 2010: 5). By the middle of 2010 over 1.1 million people lost their job since the beginning of 2009 (Statsa 2009 & 2010: vi). Unemployment rose to 25.3 % and if one includes the people who are discouraged from looking for a job, even to 36.5 % (Statsa 2010: v; see also Verick 2010a).

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Keywords South Africa, employment, financial crisis, unemployment
ISBN 978-1-8498-0495-0
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Note To be published in: P.A.G. van Bergeijk, A. de Haan & R. van der Hoeven (Eds.), The Financial Crisis and Developing Countries: A Global Multidisciplinary Perspective (pp. 215-230). Cheltenham: Edward Elgar, ISBN 978-1-8498-0495-0
Schiphorst, F.B.F.M. (2010). Defending Vulnerable Workers in South Africa After the Crisis What Role for COSATU? . In ISS Staff Group 3: Human Resources and Local Development. Retrieved from