The Pandemic Outbreak in 2020 has made the year a challenging year that no one could have predicted would turn out in the manner in which it did. Covid-19 pandemic sent economic backlash globally, and its impact extended beyond an international health crisis. The economic hit in India, led to the reduction in economic activities, forcing businesses to scale down or shut down their operations resulting in sharp increase of unemployment.
Lotto247.com conducted a survey in November 2020 to understand the financial impact the Covid-19 pandemic had over the Indian market. Over 1,700 adults participated in the survey finding that 77% of economically active adults in India had lost income. The survey says, people in their 40's are the most affected age group with over 80%. Strangely, people in 50's are less affected than in 40's. But still 73% of people in 50's lost income. People with 70 and older age were the least affected age group. Only 30% of them lost income due to the pandemic.
The Gender comparison says Men were impacted more than women. Around 78% of men reported having lost income, while 67% of women lost income. Yet another strange revelation by the survey, says adults who were divorced were greatly affected, with 87.5% of them losing income. While those in a relationship, but not married, were less affected as only 59% of them lost income.
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