Workers in the low-income bracket – earning between R5,000 and R10,000 a month – have been hard hit.
President Cyril Ramaphosa addresses the nation on developments in South Africa’s risk-adjusted strategy to manage the spread of Covid-19 from the Union Buildings in Pretoria, 12 July 2020. Picture: GCIS
As the government enforces strict lockdown measures which will, in theory, help the medical sector cope with the Covid-19 tsunami, there can be few who think the restrictions are not going to severely damage our economy. Seven out of every 10 households are earning less than they did before the coronavirus crisis, ranging from slight reductions to no one in the household earning anything. That latter situation is in line with the grim reality of three million jobs being lost between February and April.
In total, 48% of consumers believe they are worse off financially than last year … but this number is higher among low-income earners . Just one in three South Africans believe they are doing “all right” or that they are “comfortable”.
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