Thursday, September 19

Covid: 50% of Latino, African American and Native American Households Report “Financial Insufficiency” in Recent Months


En los hogares latinos, afroamericanos y de nativos americanos fue donde más del 50% tuvieron problemas financieros graves.
In Latino, African American and Native American households was where more than 50% had serious financial problems.

Photo: FREDERIC J. BROWN / AFP / Getty Images

Arrears in the payment of rent during the coronavirus crisis and that one in five households have not been able to receive medical attention due to a serious illness , are only a couple of the main findings of a survey conducted by the Robert Wood Johnson Foundation, Harvard’s TH Chan School of Public Health, and National Public Radio (NPR).

Despite millions of dollars in federal and state aid the 38% of households nationwide reported having had serious economic problems in recent months .

It is in Latino, African American and Native American households where more than 50% had serious financial problems Meanwhile he 29% of white households had them.

This disparity is repeated in many of the survey results and it is minority families that bear a disproportionate share of the socio-economic impact of the pandemic.

The survey shows a marked income split: the 59% of people with annual income less than $ 50, 000 dollars declared to have had serious economic problems in recent months, compared to 18% of households with income annual $ 50, 000 dollars or more.

The results are sample even though around Two-thirds of households reported having received financial assistance from the government in recent months during the delta wave.

According to Robert Blendon, emeritus professor of health policy and political analysis at Harvard’s Chan School, it appears that project funding COVID relief ects – 19 “did not provide a floor to protect low and moderate income people.”

Without savings

According to the survey, the 19% of US households reported losing all their savings during the COVID – 22

and currently do not have an emergency fund to draw upon .

The financial hit is harder for African American households because the 31% declared having lost all their savings . Among Latino and Native American families, more than a quarter of households said they had exhausted their savings.

However, those earning less than $ 38, 000 dollars a year were much more likely to lose all their savings than the better-off citizens.

“There is a group of people who face changes in their lives without any savings,” said Blendon.

Based on the financial anguish that families have experienced in the United States from the expiration of the ban on eviction from the Centers for Disease Control and Prevention , at the end of August, the 27% of tenants nationwide reported having had serious problems paying their rent in the last few months

.

Citizens also registered a delay in paying for services public, credit cards and many of them came for first time to food banks .

You can consult the survey at via this link .

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