The Bureau for Market Research's (BMR's) analyst Carel van Aardt said last week that the 475000 job losses are likely to have affected most of those black South Africans earning between R100000 and R300000 a year.
"First indications are that a lot of the gains in living standards between 2000 and last year, particularly in the African group, have been seriously impacted on," Van Aardt said last week.
South Africa: Recession Has Exposed Frailties of Black Middle Class
AllAfrica.com
September 21, 2009