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September 24, 2020

Economic Fallout From COVID-19 Continues To Hit Lower-Income Americans the Hardest

ST_20.09.24_COVID personal finances_News Well

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Economic Fallout From COVID-19 Continues To Hit Lower-Income Americans the Hardest
Financial pain points during coronavirus outbreak differ widely by race, ethnicity and income
Financial hardship much more pronounced among those who’ve lost a job or wages
Roughly four-in-ten adults say they or someone in their household lost a job or wages because of COVID-19
Younger adults laid off because of the outbreak are more likely to be in a new job than their older counterparts
Most workers who lost wages due to COVID-19 are still earning less
About four-in-ten lower-income, Black and Hispanic adults have used money from savings or retirement accounts since outbreak began
Lower-income adults hit hardest in being able to save less since the coronavirus outbreak began
Problems paying bills, rent or mortgage have impacted adults with lower incomes more than others since February

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Economic Fallout From COVID-19 Continues To Hit Lower-Income Americans the Hardest

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