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POLL: About 40 % of Americans report financial loss because of the pandemic
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CHARLOTTE, N.C. (AP) — Roughly 4 in 10 Americans say they’re still feeling the financial impact of the loss of a job or income within their household as the economic recovery remains uneven one year into the coronavirus pandemic.
A new poll by The Associated Press-NORC Center for Public Affairs Research provides further evidence that the pandemic has been devastating for some Americans, while leaving others virtually unscathed or even in better shape, at least when it comes to their finances. The outcome often depended on the type of job a person had and their income level before the pandemic.
The pandemic has particularly hurt Black and Latino households, as well as younger Americans, some of whom are now going through the second major economic crisis of their adult lives. ...
The poll shows that about half of Americans say they have experienced at least one form of household income loss during the pandemic, including 25% who have experienced a household layoff and 31% who say someone in the household was scheduled for fewer hours. Overall, 44% said their household experienced income loss from the pandemic that is still having an impact on their finances. ...
The poll’s findings reflect what some economists have called a “K-shaped recovery,” where there have been divergent fortunes among Americans. Those with office jobs were able to transition to working from home while those who worked in hard-hit industries such as entertainment, dining, travel and other industries have continued to struggle. The poor have struggled to recover financially compared to the wealthy and Black and Latino households have not bounced back as well as their white counterparts....
ALSO SEE: A Year Later, Who Is Back to Work and Who Is Not? --NY Times
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