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Economic reality and a new normal

According to Mike Schüssler of the economic figures for the month of June gives a much more realistic picture of the extent to which the Covid-19 pandemic has played havoc in the South African economy.

According to Schüssler it is much worse than anticipated.

Fewer salaries

He says according to the figures released by BankServAfrica, 20,7% fewer salaries were paid out in June 2020 in the formal sector of the economy compared to the year before. This means that one fifth of workers in large and medium sized organisations ... continue reading