Uneven Recovery Leaves Many Hispanic, Black, and Low-Income Adults Struggling: One in Four Adults Say Their Families Are Worse Off Six Months into the Pandemic [open pdf - 260KB]
From the Document: "The Coronavirus Aid, Relief, and Economic Security (CARES) Act and other legislation provided substantial assistance to households hit hard by the pandemic-induced recession, but much of this assistance was temporary. For the past few months, Congress and the Trump administration have failed to come to an agreement that would provide additional help to families who continue to struggle. Despite some improvement in the labor market since April, recent data reveal slowing job growth and a growing number of workers facing permanent job loss, signaling an immediate need for more federal stimulus. But focusing on aggregate employment statistics alone offers only a partial glimpse into the economic recovery. These data do not directly address how families' economic well-being has changed over the course of the pandemic. In this brief, we assess how adults and their families were faring in September relative to the beginning of March, before the pandemic caused a sharp economic recession. We use data from the second wave of the Urban Institute's Coronavirus Tracking Survey, a nationally representative survey of nonelderly adults conducted September 11-28, 2020, to examine how family employment and financial situations have changed six months into the pandemic and how these changes have differed by race/ethnicity and prepandemic family income. We also explore the financial strategies families are using to cope with job loss and how much support families experiencing job loss are receiving from public and private safety-net programs."
2020 Urban Institute. Posted here with permission. Documents are for personal use only and not for commercial profit.
Urban Institute: https://www.urban.org/