The economic crisis significantly affected employment across multiple sectors within the country, a Household Survey on Impact of Economic Crisis – 2023 by the Department of Census and Statistics showed.
“60.5% of households have experienced a decrease in their total income as a result of the economic crisis.”
During the income decline, households employed various coping strategies to mitigate the impact of the economic crisis.
The most commonly reported coping strategy, utilised by 6.6 percent of households experiencing reduced income, was “Turning to a secondary job or an additional source of income.”
Conversely, the least reported coping strategy among these households was “Loans, mortgages, or seeking food/money from others.”
According to the data presented, nearly half of employed individuals encountered changes in their main job due to the economic crisis.
These changes included work breaks or temporary absences, reductions in working hours, cuts in pay or allowances, and income loss.
