The country’s largest credit bureau says one in six people lost their job in early May, with defaulting on their bills just seven weeks away
Jobless men looking for piece work, Johannesburg. Picture: KATHERINE MUICK
The company’s latest research into the economic effects of the pandemic, released on Thursday, reveals that the number of people losing their jobs increased from one in 10 in April to one in six in early May. “The pandemic is creating major economic and financial distress for consumers, with many jobs in the SA economy already being impacted or at risk due to drastic demand shifts,” said Lee Naik, CEO of TransUnion Africa.TransUnion began conducting research into how the pandemic is affecting the income and financial position of consumers last month.
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