Eight out of 10 households hit hard by lockdown, claims TransUnion survey

Almost 79% of South Africans say their household income has been negatively impacted by the Covid-19 pandemic, according to a TransUnion survey.

Since the first week of April, TransUnion has conducted weekly surveys on how SA consumers have been impacted by the lockdown.

Financial concerns were highest among younger generations, and a majority of consumers who have had their household income impacted by Covid-19 are concerned about paying their bills.

The survey found that 32% of people surveyed and who had felt a negative impact had their work hours cut.

“One in ten of impacted respondents have already lost their job as a result of the pandemic. Some provinces saw more pandemic-related job losses than others, with this figure at 12% for the Western Cape, 11% for the North West and 10% from both KwaZulu-Natal and Gauteng.

“Younger generations were more acutely affected by these job losses,” the survey found.

In terms of bills and loans, about 89% of consumers whose household income has been impacted are concerned about paying their bills. Concern over ability to pay bills was highest among millennials.

“Of consumers who are concerned about paying their bills, 46% report that they will not be able to pay their utilities (electricity, water, etc.), 42% will not be able to make their rent repayment and 39% report that they will not be able to pay their cellphone bill,” the survey found.

On average, respondents said they will be short about R7,000 in the near future.

Some respondents said they would not be able to pay their bills for longer than one month but less than three months.