By Ritah Kemigisa
A Microeconomic development report by the ministry of Finance for the period ending June indicates that a total of 60,982 jobs were lost in one month due to the shocks caused by the covid-19 pandemic.
According to data, due to covid-19, formal sector employment declined from 714,048 employees in May, 2021 to 653,066 employees in June 2021.
The report however indicates that over 5000 Ugandans left the country in June to work in Saudi Arabia which is double the number of those who left in April.
Meanwhile, the report shows that the pandemic generated new business opportunities.
An average annual growth in Industrial output recovered slightly from 3.3% in FY 2019/20 to 3.4% in FY 2020/21 thanks to a strong performance of the manufacturing sub-sector.
Activities in the manufacturing sub-sector also expanded by 2.1% compared to 1.3% over the same period.