The Consumer Vulnerability Index (CVI) for South Africa showed a relatively steep increase in the second and third quarters of 2020, rising to a score of nearly 57 from the 50 in the first half of 2018. The CVI did show an easing to 54 points in the final quarter of 2020. The CVI currently still indicates a higher-than-average vulnerability score for households. A value below 50 would indicate a lower-than-average vulnerability. Compared with a year ago, the individual components’ vulnerability scores remained mostly unchanged. Employment was the exception, with the total number of employees declining by 5.8% y/y, from 10.2 million at the end of 2019 to 9.6 million in the fourth quarter of 2020.
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