This is how shrinking income during lockdown is affecting South Africans

United States News News

This is how shrinking income during lockdown is affecting South Africans
United States Latest News,United States Headlines
  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

The data, released on Wednesday, is from the second wave of a survey on the effect of Covid-19 on employment and income of South Africans, and gives some insight into the financial hit households have taken through the lockdown.

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 in 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. Stats SA conducted the survey online through the agency's website, between April 29 and May 6, garnering 2,688 respondents. Most of the participants, almost 70%, were in paid employment before the lockdown, with a further 15.3% listed as self-employed.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SowetanLIVE /  🏆 13. in ZA

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.

My gullible fellow South Africans…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 »

VERASHNI PILLAY: Channeling South Africans’ desperate need for accountabilityVERASHNI 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 »

This is how shrinking income during lockdown is affecting South AfricansFor those who lost earnings, almost 75% say they have had to cut spending to cope, while just more than half have accessed their savings
Read more »

This is how shrinking income during lockdown is affecting South AfricansFor those who lost earnings, almost 75% say they have had cut spending to cope, while just over half have also accessed their savings
Read more »

We need to galvanise young South Africans to be Covid-19 myth-bustersWe need an army of young South African myth-busters and change agents to affect a youth-focused approach to help flatten the curve, writes Dr Ramneek Ahluwalia.
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 »



Render Time: 2025-03-31 07:51:22