This article was last updated on August 18
Over half of American households experienced a loss of income since mid-March from the pandemic induced slowdown and another 35% expect to lose unemployment income in the next 4 weeks. That was a finding from a Census Bureau study summarized in Bloomberg, which looked at anxieties that COVID-19 has brought in its wake. Specifically on unemployment the following summary showed the main reason for job losses, which many readers can likely relate to.
The ongoing unemployment situation and lapse in extra unemployment benefits has also meant that people are more worried than ever about paying their rent or mortgage. A stunning 33% of Americans are worried about making their monthly payment, bringing back dark memories of the 2008-9 housing crisis.
Bottom line is you are not alone. And while things are bad right now, millions of Americans are in the same boat. See more unemployment resources and news here.