![]() 1 Among those who’ve had these experiences, lower-income and Black adults are particularly likely to say they have taken on debt or put off paying their bills in order to cover lost wages or salary. Lower-income adults, as well as Hispanic and Asian Americans and adults younger than 30, are among the most likely to say they or someone in their household has lost a job or taken a pay cut since the outbreak began in February 2020. The economic fallout from COVID-19 continues to hit some segments of the population harder than others. Among those who say their financial situation has gotten worse during the pandemic, 44% think it will take them three years or more to get back to where they were a year ago – including about one-in-ten who don’t think their finances will ever recover. Still, about half of non-retired adults say the economic impact of the coronavirus outbreak will make it harder for them to achieve their long-term financial goals, according to a new Pew Research Center survey. labor market, and Americans are feeling somewhat better about their personal finances than they were early in the pandemic. References to disabled adults include those who say a disability or handicap keeps them from fully participating in work, school, housework or other activities.Ībout a year since the coronavirus recession began, there are some signs of improvement in the U.S. “Lower income” falls below that range “upper income” falls above it. “Middle income” is defined here as two-thirds to double the median annual family income for panelists on the American Trends Panel. ![]() “Some college” includes those with an associate degree and those who attended college but did not obtain a degree. ![]() References to college graduates or people with a college degree comprise those with a bachelor’s degree or more. Democrats include those who identify as Democrats and those who say they lean toward the Democratic Party. ![]() Republicans include those who identify as Republicans and those who say they lean toward the Republican Party. Hispanics are of any race.Īll references to party affiliation include those who lean toward that party. References to White, Black and Asian adults include only those who are not Hispanic and identify as only one race. References to those who have experienced job or wage loss include those who say they or someone in their household has been laid off (including temporarily) or furloughed or taken a pay cut since the coronavirus outbreak began in February 2020. ![]()
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