The latest figures released on Monday by ZIMSTAT show that sixty-two per cent of employed people in Zimbabwe were earning approximately ZW$20 000 (R793) in April 2022.
According to Zimbabwe National Statistics Agency’s second quarter labour force survey, 62% of employed people in the southern African country earned Z$20 000, which equates to US$51 using the parallel market exchange rate of $390 per greenback.
Using the end of April 2022 official exchange rate of ZW$259.34 per dollar, the workers were earning US$125.51.
ZIMSTAT’s definition of employed people, which is in sync with that of the ILO, includes subsistence farmers and those in the informal sector, such as vendors. News24 cites ZIMSTAT as saying:
Among the paid employees, 27% earned income of less than Z$20 000 again during the month of April 2022.
Among those employed in the non-agriculture sectors, 85 percent were informally employed.
This was happening as inflation was rising in Zimbabwe with the effect of eroding the salaries that were in the local currency.
The Zimbabwe dollar was losing value against the United States dollar at a very fast rate.
ZIMSTAT also stated that 48.8% or 1 367 291 of youth between 15-24 were unemployed and not receiving an education or vocational training.