Finances of 2 Groups Hit Hardest During Pandemic

Women, people of color more likely to report being worse off
By Arden Dier,  Newser Staff
Posted Apr 27, 2021 11:56 AM CDT
1 in 4 Women Worse Off Financially in Pandemic
Stock photo.   (Pexels/Andrea Piacquadio)

Women and people of color are significantly more likely than white men to say they're worse off financially now than they were before the pandemic, according to a new Washington Post-ABC News poll. Of the 1,007 people surveyed by phone between April 18-21, 22% said they were worse off financially than in March 2020. That's compared to 14% who said they were in a better financial position, and 64% who said their finances were about the same. But some 18% of white people and 18% of males said they were worse off financially, compared to 25% of women, 23% of Black people, and 30% of Hispanic people. Women and people of color "were far more likely to lose jobs when the pandemic took hold," eliminating millions of service-sector jobs, the Post reports. Women have also shouldered the brunt of child care duties.

Several women told the Post they've had to take lower-paying jobs, or leave their jobs altogether, to care for children who were no longer in school or day care. Some said rent and food bills increased at the same time. Those without a four-year college degree were more likely to report a worse financial situation (24%) than those with bachelor's degrees (21%) or graduate degrees (11%). A separate AP poll of 2,374 adults conducted Feb. 12-March 3 found 15% of respondents were worse off financially than before the pandemic. That followed an online survey of 2,040 US adults in January that found 75% of those ages 18 to 34 were at least somewhat stressed financially. That was compared to 71% of people ages 35 to 44; 65% of those ages 45 to 54; 46% of those ages 55 to 64; and 27% of those over 65, per the Journal of Accountancy. (More pandemic stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.