Unsurprisingly, impact and lockdown were closely correlated. The government reopening on September 30 allowed business owners the flexibility and freedom to re-open and re-hire employees. At its low point, only half of employers were able to cover employees’ salaries, now 4 in 5 are able to do so.
Savings were a critical coping mechanism. Across rounds, savings was the top coping mechanism for respondents, with a small portion using more drastic mechanisms such as selling assets or borrowing.
There’s been a reduction in consumption and a rise in hunger. Respondents consume less than they did and are more likely to experience hunger today than before the pandemic. While there was a dip in hunger during the holiday period, the level of hunger in the group rose at the end of the study.