Cameroonians Lost 11,270 Jobs In 2020 To COVID-19 — Report
Cameroon’s economy is badly hit by the COVID-19 pandemic as the country recorded 11,270 job losses in its private sector in the year 2020 due to the pandemic.
Cameroonian business enterprises were forced to lay-off 11,270 workers during the 2020 fiscal year due to the COVID-19 pandemic, which has led to a general slowdown in economic activities in the country, a report said.
A report by the National Observatory of Employment and Training (ONEFOP) says the job loss represents 14.9 per cent of the 75,654 jobs created in the country in 2020.
According to the report, most economic operators also used the technical leave to sack workers, noting that 25,694 workers, representing 34 per cent of jobs, were sent on technical leave in 2020 due to the pandemic.
The report painted a bleak picture concerning lost job opportunities due to the annulation of certain investment projects because of the COVID-19 pandemic.
“The potential loss due to the annulation of certain projects on the public investment budget following the advent of the COVID-19 stands at 34,661 jobs, which could raise the number of workers on technical leave from 25,694 to 60,355,” revealed the ONEFOP report.
Meanwhile, business enterprises were not the only economic components that were affected by the pandemic in the year under review.
ONEFOP data indicates that the original job creation projections by the government for 2020 stood at 550,000 based on an economic growth perspective of 4.5 per cent driven by the completion of big infrastructure projects linked to the 2022 African Nations Cup competition, the triannual emergency plan, the triannual special plan for youths, but the economy finally regressed by -2.6 per cent
“Finally, due to the unfavourable situation from the beginning of the pandemic in March 2020, only 330,903 jobs were created, with 56 per cent within the context of projects related to the public investment budget and 22.9 per cent by private enterprises. This is about 220,000 jobs lower than initial projections,” the ONEFOP report reveals.
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