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1/3 of Czech households see drop in income due to COVID-19

One-third of Czech households have experienced a drop in income due to the restrictions related to the COVID-19 outbreak, according to the results of a poll conducted by the Public Opinion Research Center, Czech Radio reports. 

Graphic by YAKOBCHUK VASYL / Shutterstock.com

Nearly 50% of employees and 75% of the self-employed said they had felt the negative impacts of the coronavirus crisis. Some 5% of the people who took part in the survey said they had trouble making ends meet.

By the start of May, 11% of households experienced a significant drop in income and 20% of households a moderate drop, the survey suggests.

On the other hand, 5% of households reported an increase in income and 61% said their income had remained more or less the same.

Overall, 58% of entrepreneurs experienced a drop in income following the introduction of restrictive measure related to the coronavirus outbreak. Some 24% of self-employed respondents said the coronavirus restrictions had no effect on their work and 1% said their number of commissions had increased.

Seven percent of respondents said they only had financial reserves for one month, while the same percentage said their financial reserves would last for two months. Eight percent of Czech households have sufficient savings for three months and 46% of respondents said their financial reserves would last for more than six months.

The poll was carried out in May among more than 1,000 respondents over the age of 18, Czech Radio said.