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Almost 20% of U.S. Households Lost Entire Savings During Covid Restrictions

21 pointsby AndrewBissellover 3 years ago

3 comments

troydavisover 3 years ago
Underlying poll: <a href="https:&#x2F;&#x2F;media.npr.org&#x2F;assets&#x2F;img&#x2F;2021&#x2F;10&#x2F;08&#x2F;national-report-101221-final.pdf" rel="nofollow">https:&#x2F;&#x2F;media.npr.org&#x2F;assets&#x2F;img&#x2F;2021&#x2F;10&#x2F;08&#x2F;national-report-...</a><p>Unfortunately, they didn’t ask how much savings the responding households had prior to the pandemic, which makes the headline answer hard to evaluate.<p>The closest it gets is “Is your financial situation now better, worse, or about the same as it was before the Covid-19 outbreak?” (Page 18).<p>23% said “A little worse” and 9% said “A lot worse.” 49% about the same, 15% a little better, 4% a lot better.
greenailover 3 years ago
Unfortunately the poor in the US have almost no savings. The bottom 25% median savings was 12,430 in 2020 up from 10,935 in 2017.
GaryTangover 3 years ago
I imagine there are many more unreported statistics of the devastation caused by government lockdowns.