Is the informal economy becoming the answer to unemployment?
The informal economy is becoming the shock absorber for what is happening in the formal economy As formal-sector employment comes under pressure, South Africa’s informal economy is increasingly emerging as more than a temporary safety net for the unemployed.
With thousands of jobs lost in the formal sector in the second quarter, more South Africans, particularly young people, are turning to informal businesses and trade for income, according to Annelene Dippenaar, chief business officer at Shop2Shop.
Informal economy absorbs unemployed youth Dippenaar told The Citizen that the informal economy is becoming the shock absorber for what is happening in the formal economy.
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