Household Income is Still Lower than Pre-Pandemic Levels Say 42% of Americans

A 42 percent of Americans said in a Wednesday Bankrate survey that their household income remains below what it was before the COVID-19 pandemic and the lockdown measures imposed to contain its spread.

A 42 percent of Americans said in a Wednesday Bankrate survey that their household income remains below what it was before the COVID-19 pandemic and the lockdown measures imposed to contain its spread.

Bankrate explained that half of US households said their income has taken a significant hit at some point during the virus crisis. Yet, only 17 percent of those who suffered any income drop reported that their earnings have returned to the levels they had before the pandemic started back in March.

In its report, Bankrate also said that most of the US households saw their incomes decline after the lockdown measures imposed in different states to contain the spread, with numerous companies deciding to close or to reduce personnel and work hours.

According to a Forbes report, 85 percent of US adults are worried about a lasting negative impact to their income, as the financial fallout from the COVID-19 crisis continues and with expanded unemployment benefits and eviction moratoriums set to expire in a couple of weeks.


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