For those who lost earnings, almost 75% say they have had cut spending to cope, while just over half have also accessed their savings
A quarter of participants in a new survey by Stats SA have seen their incomes reduced during the nationwide lockdown, which is now into its eighth week.
The near total halt to business activity, bar essential services, which was instituted to slow the spread of the coronavirus, is expected to see the economy shrink by anywhere between 5.4% and 16.7% in 2020. For those who lost earnings, the majority, or almost 75%, said they had cut down on spending to cope, while just over half have also accessed their savings, including money stored in stokvels.members while 14.6% had claimed from the unemployment insurance fund .
When it came to employment, almost nine in 10 of the respondents who were employed before the national lockdown remained in employment during the lockdown — though 8.1% reported losing their jobs or having to close their businesses and a further 1.4% “became unemployed”.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
VERASHNI PILLAY: Channeling South Africans’ desperate need for accountabilityYoung, black South Africans will not wait to fit into anyone's boxes to make demands. So who will rise up to the challenge?
Read more »
My gullible fellow South Africans…For those who still have money in the bank, rest assured, it won’t be there much longer.
Read more »
South African students trapped in Cuba – no food, no pads1 211 South African students studying medicine in Cuba as part of the Nelson Mandela/Fidel Castro Medical Collaboration Programme find themselves at the heart of the repercussions of the Covid-19 coronavirus pandemic.
Read more »
School curricula must be revised to merge 2020 and 2021 material – One South AfricaThe chief activist of One South Africa Movement said that Minister Angie Motshekga's move to reopen schools in June was a rushed and half baked decision.
Read more »
These are the cars that Kia plans to launch in South Africa in 2020KIA Motors South Africa has four launches planned for later in 2020, including a new compact SUV. Here's what to expect as the economy opens up. IOLMotoring
Read more »
ANALYSIS: This is why economic policy remains hotly contested in South AfricaA new book sheds new light on the evolution of the economic policy of the African National Congress, South Africa's governing party.
Read more »