Thursday, March 19, 2020

The Financial Impact of Covid-19

If the coronavirus caused you to miss work for at least two weeks, would you continue to get paid? Only 36 percent of employed Americans answered yes to this question, according to a Pew Research Center survey. The 54 percent majority said they would not get paid, and the remaining 10 percent were not sure. Workers with the highest household incomes were most likely to say they would continue to get paid. Most of those with the lowest incomes said they would not get paid and as a consequence they would have difficulty keeping up with their basic expenses...

Percent of the employed who said they would not get paid and it would be difficult to keep up with basic expenses if they missed at least two weeks of work because of the coronavirus, by family income:

11% of those with incomes of $100,000 or more
23% of those with incomes of $75,000 to $99,999
27% of those with incomes of $50,000 to $74,999
45% of those with incomes of $30,000 to $49,999
52% of those with incomes below $30,000

Source: Pew Research Center, U.S. Public Sees Multiple Threats from the Coronavirus—and Concerns are Growing

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