COVID-19

Half of Americans experiencing financial difficulties

Just 23% of Americans say they have enough savings to survive three months of quarantine.

Nearly half of people in America say they or someone in their household has experienced a loss of income due to the COVID-19 outbreak and subsequent isolation efforts according to a survey from the Pew Research Center.

That number is an increase from 33% just a month ago. The survey asked about job losses as well as decrease in pay from existing jobs.

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The report is even more troubling for more vulnerable populations. About 52% of lower-income people reported income and job losses. Of the same group, 53% said they would have trouble paying bills this month.

Even with stimulus money coming in from the federal or state governments, money is tight for most Americans. More than half of people indicated they would use aid money to pay bills or for other essentials.

The report is the result of a survey of 4,917 U.S. adults conducted during the month of April.

You can read the full report here.

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