Downgrade, recession pushes some people to work multiple jobs

Middle-class South Africans are feeling the pinch as the cost of living continues to rise, while incomes stagnate. This financial strain is forcing many individuals, like Pindi Madrashe, to take on multiple jobs just to make ends meet. Madrashe, a booking agent at Sony Music and a digital account manager at FGX, shares her experience of working double shifts to cope with the increasing financial demands. She reflects on the lessons learned from her hardworking mother, who juggled multiple jobs to supplement her income. As South Africa grapples with a recession and junk status, the trend of individuals working two jobs to sustain themselves is likely to become the new norm. The economic challenges are pushing many to consider additional employment opportunities to bridge the gap between their salaries and the rising cost of living. Despite the resilience of the financial markets post-downgrade, cracks in the real economy are beginning to surface. Social entrepreneur Sizwe Rassana highlights how the downgrade has impacted his plans to build universities, leading to a reduction in job opportunities for construction workers. With nearly 10 million South Africans unemployed and economists warning of a worsening situation, the job market remains bleak. The downgrade has dampened business confidence, hindering investments and ultimately affecting job creation. Wage growth in the private sector has been limited, with many workers facing the possibility of stagnant salaries and reduced bonuses. While inflation is projected to decrease this year, the lack of business investments hinders economic growth and improvements in worker compensation. As the workforce struggles to make ends meet in a challenging economic climate, the need for multiple jobs to sustain a livelihood becomes increasingly prevalent, mirroring Pindi Madrashe's experience of working tirelessly to navigate financial uncertainties.