Household insights from the latest report
Momentum and Unisa constructed a household model to measure the impact of Covid-19 and the lockdown on households’ income and net wealth. The model measured two scenarios, namely what the income and net wealth would have been without Covid-19 and the lockdown; and what it is estimated to be with Covid-19 and the lockdown. The results were compared to determine the impact on household income and net wealth and to identify the household income groups that were hardest hit.
The models showed that the Coronavirus and lockdown did not discriminate between income, education, employment, gender or age groups. Every household lost in some or other way, even those households who thought they were not affected e.g. their income might have remained the same or increased, but the value of their property increased slower.