Women, people of color say their finances worsened after pandemic

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Women and people of color are the most likely to say their financial situation is worse today than it was before the pandemic, according to an April 27 article by The Washington Post.

Washington Post-ABC News surveyed 1,007 American adults April 18-21on their financial situations and spoke to respondents in follow-up interviews:

Nine findings:

  1. A quarter of women say their family's financial situation is worse now than when the COVID-19-related shutdowns began in March 2020, compared to just 18 percent of men.

  2. Twenty-seven percent of nonwhite respondents said their financial situation is worse, compared to 18 percent of white poll respondents.

  3. Thirty percent of Hispanic respondents said their financial situations are worse now than when the pandemic began, followed by 23 percent of Black respondents.

  4. Twenty-nine percent of women under the age of 65 said their financial situation is worse today, compared to 10 percent of women 65 years old or older.

  5. The poll findings highlight the added difficulties women and people of color face, as they were far more likely to lose their jobs when the pandemic hit. Women also have had to take on the responsibility of child care as day care centers and schools closed across the country.

  6. Women reported needing to take lower-paying jobs that offered more flexibility to meet their child care needs.

  7. Twenty-four percent of those without college degrees say their finances are worse than they were a year ago, followed by 21 percent of those with bachelor's degrees and 11 percent of those who have a master's degree or higher.

  8. Fifty-eight percent of Americans rate the economy as "not so good" or "poor." That is only a 1 percentage point change from a September poll, when 59 percent of respondents gave the economy low marks.

  9. About 1 in 5 respondents said their financial situation was worse than before the shutdowns, and 6 in 10 said their financial situation is about the same.

To view the full list of survey findings, click here.

 

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