Pandemic Hit Less-Educated Workers Hardest, Fed Survey Shows
By Paul Kiernan
WASHINGTON -- The economic fallout from the coronavirus pandemic
was concentrated among minorities, women and workers who hadn't
finished high school, according to a new survey from the Federal
Three-fourths of U.S. adults reported doing at least okay
financially in November 2020, a share that was unchanged from
previous years, the Fed said Thursday.
But that finding masked significant divergences in economic
well-being between workers who retained their jobs and those who
were laid off, households with more education and those with less,
and those who have children versus those without.
Among adults with less than a high school degree, 45% reported
doing at least okay financially, down from 54% in 2019. Among those
with a bachelor's degree or higher, the percentage rose to 89% from
88%, the Fed said in its annual Survey of Household Economics and
Decisionmaking, which polls more than 11,000 individuals.
Write to Paul Kiernan at email@example.com
(END) Dow Jones Newswires
May 17, 2021 12:21 ET (16:21 GMT)
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