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As the coronavirus pandemic drags on, a new poll finds it is having different effects on Americans’ economic wellbeing. For some, the virus has meant lost income or struggles to pay bills on time – particularly among Hispanic, Black and younger Americans. Others, most notably college-educated and older Americans, have transitioned to working from home or have experienced the nation’s economic decline through a dip in the value of their investments.

Overall, roughly a quarter of Americans say they have lost savings and about as many have lost income, according to the latest COVID Response Tracking Study, conducted by NORC at the University of Chicago. About 2 in 10 report losing a job and roughly another 2 in 10 say they have put themselves at risk of exposure to the virus for work.

The poll finds that disparities of economic experience during the pandemic by race and ethnicity, age and education are stark.

  • More college-educated Americans have lost investments, 45 percent, compared with 28 percent of those without a college degree. By contrast, Americans without a degree were more likely to have delayed paying bills – 26 percent, compared with 10 percent of college graduates.
  • Hispanic and Black Americans were more likely than white Americans to have lost income (42 percent and 32 percent vs. 21 percent) and to have delayed paying bills (38 percent and 35 percent vs. 14 percent).
  • Thirty-one percent of Hispanics say they have put themselves at risk of exposure for work, compared with 19 percent of white Americans.
  • Younger Americans were more likely to have lost a job, put themselves at risk of exposure or delayed paying bills, while more older Americans lost investments.

Poll: Pandemic Hurting Americans’ Finances in Disparate Ways

by The Associated Press time to read: 1 min
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