Corona crisis is making money scarce in households

economy

The financial situation of households has worsened significantly during the corona crisis, according to a survey (1,200 people sample) by the tariff comparison platform “durchblicker”. According to this, 38 percent of households have suffered financial losses, 17 percent of which are no longer able to meet their fixed costs. Two thirds of all households responded by optimizing or reducing fixed costs – in October 2020 only 13 percent said this.


SN / APA / BARBARA GINDL

Short-time work is the main reason for lower household incomes

In Burgenland and Salzburg, almost one in two answered the question “Has your household net income decreased in the last twelve months due to the corona crisis” with a “Yes”. In Vienna, Vorarlberg, Carinthia and Styria it was around a third. At 53 percent, households that earn their income from self-employed work were hit particularly hard, according to Reinhold Baudisch, head of the company. Household size also plays a role: 34 percent of single households reported an income reduction, while families with children reported 42 percent.

“In almost every second household affected, the transition to short-time work is the reason for the worsened income situation. 22 percent cite termination and 16 percent a decline in sales for self-employed work as the cause,” said Baudisch.

Accessed on March 18, 2021 at 8:05 am on https://www.sn.at/wirtschaft/oesterreich/coronakrise-macht-das-geld-in-den-haushalten-knapp-101230414

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