The coronavirus pandemic has taken it’s toll on the U.S. economy and shattering many of our citizen’s finances. About 41% of working-age adults say their families have experienced a job loss, a decrease in work hours or other employment-related declines in income in recent weeks, according to a new analysis by the Urban Institute.
More than 4 in 10 of Americans whose work was affected by the pandemic said they weren’t able to pay the rent, mortgage or utility bills, skipped medical care, or were at risk of going hungry.
The findings are based on an internet survey of more than 9,000 adults between March 25 and April 10. And, it is probably worse now than it was a month ago when this survey was taken by the Urban Institute, a centrist think tank.
The cratering economy, which has left an estimated 1 in 6 U.S. workers without a job, is especially hurting younger Americans, minorities and those without a college degree. Twice as many black and Hispanic Americans as whites say they are no longer earning any income, according to new data from the National Opinion Research Center at the University of Chicago, a non-partisan research group.
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