COVID-19 Squeeze on US Adults Tightens

Click the image below to enlarge the infographic.
  • About 17% of US adults said in December 2020 that the COVID-19 pandemic cut their household income by at least 50%, and 36% said their annual household income had fallen below $30,000 in a Prudential survey
  • Earlier in May, only about 19% of the participants in a similar Prudential survey said their annual income was under $30,000
  • Similarly, the survey found that the percentage of participants who reported falling behind on bills increased from 11% in May to 24% in December
  • Prudential also found a big impact of the pandemic on consumption: about 15% of the participants said they cut their spending on medical care because of financial issues
  • Prudential Financial Inc. reported these findings in a summary of results from its most recent financial wellness survey