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BUSINESS NEWS - Unemployment is one of the biggest scars that will be left by the COVID-19 pandemic.
South Africa’s unemployment rate was nearly 30% before the breakout of the pandemic.
According to preliminary modelling by Business For South Africa, more than a million people are expected to lose their jobs during this time.
In the UK, a new study done by the Institute for Social and Economic Research at the University of Essex, showed that more than 6,5 million jobs could be lost due to the lockdown. This is about a quarter of the total jobs in the UK. More than half of the positions in certain sectors could be lost.
In Australia, the Grattan Institute said in a statement that they calculate between 17% and 28% of Australian workers - 2.2 million to 3.6 million people - could be unemployed in the coming weeks as a result of the spatial distancing measures now in place. According to the Institute’s research they expect that the unemployment rate will rise between 10% and 16%.
One of the unemployed victims was a young Australian man in his twenties. His unemployment left him in a stressful situation as he and his wife recently started a family and have a young baby.
However, their situation changed completely after he bought a QuickPick Set for Life entry online, also known as Cash4Life in other countries.
His new family’s lives changed on the 12th of April when he matched the 7 main numbers and won a total prize of AUD $4,800,000.00 (approx. R58 million). The main numbers were 6, 11, 12, 13, 25, 32, 43 and supplementary numbers 9 and 16.
He will receive the prize money of AUD $4,8 million (approx. R58 million) over the next 20 years in monthly payments of AUD $20,000 (approx. R243,000).
He could not believe his eyes when he realized he had won. He checked his online account multiple times to make sure that it was real. When he woke up his wife to share the big news, she shouted for joy. They didn’t have much sleep after that. They stayed up all night, watching TV and talking about what they are going to do with their prize money.
The 20-year-old said they are a young family and this amount will set them up for the rest of their lives and that it will give them financial freedom. He also shared his feelings of how happy he is after the stress of losing his job and the prospect of endless possibilities they now have.
His wife’s plans with the life-changing prize is to do everything she always dreamed of: Go on a shopping spree, buy their dream house, and a new car. Like this young man said: “The question is, what can’t you do with this prize?”
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