Mar 28, 2020 - Economy & Business

33% of Americans know someone whose finances have been hit by coronavirus

Illustration of two arms stretching a U.S. dollar

Illustration: Aïda Amer/Axios

One-third of Americans say they or someone in their household has either lost a job or taken a pay cut since the novel coronavirus outbreak began, according to a study from Pew Research.

The big picture: During the 2008 financial crisis, people were able to leave their homes in search of jobs, but that's currently difficult with local and statewide stay-at-home orders and quarantine mandates, The New York Times writes.

  • Yes, but: Many of those with jobs wherein they cannot work from home, including grocery clerks and warehouse workers, are increasingly worried about contracting the virus and spreading it to their loved ones.

By the numbers: Americans are worried about the state of the U.S. economy.

  • 65% of Americans said the outbreak will cause a recession or depression in the U.S., and 17% anticipate a depression.
  • Americans are less anxious about how coronavirus will impact their personal health and finances — 36% said it is a major threat to their health, while 49% said it is a major threat to their personal finances.

Methodology: Pew Research Center surveyed 11,537 American adults in March 2020. Everyone surveyed is a member of Pew Research Center’s American Trends Panel, a survey panel that is recruited through national, random sampling of residential addresses.

Go deeper:

Go deeper