The number of South Africans who have lost their jobs has increased sharply in the month since the beginning of April, according to newly released research from TransUnion.
Mpumalanga is the most affected province when it comes to Covid-19 related unemployment, with job losses there increasing to 26% . TransUnion said this is potentially driven by the effects of the lockdown on the agricultural and mining industries, which are the largest industries in the province.
Nearly two-thirds of these consumers reported that household budget changes during the pandemic involved cutting back on discretionary spending. Forty percent have cancelled subscriptions or memberships, and just under one third have cancelled or reduced digital services due to household budget constraints.
Overall, 44% of all consumers who are concerned about paying their bills report that they will not be able to make their rent payment, 39% will not be able to pay their personal loan, 37% will not be able to pay their cellphone bill, and 32% will not be able to pay their credit card. All of these bill types were unchanged between the April and May surveys with the exception of personal loans, which increased from 33% to 39%.
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