4. Coronavirus cuts income across the U.S.
Axios' Stef Kight reports: Nearly half of U.S. households have lost income since mid-March — but the suffering varies widely by state, according to survey data released Wednesday by the Census Bureau.
Why it matters: Income losses are particularly common in states that have borne the brunt of the coronavirus pandemic, like New York and New Jersey.
- But Southern states like Mississippi have experienced some of the most dire economic impacts, such as food scarcity and housing insecurity.
The big picture: The Census Bureau released the first two weeks of data on Wednesday from its new weekly survey intended to gauge how Americans are faring during the pandemic.
- The latest results seem to reveal that in states with higher poverty rates, people didn’t have much money in the first place and now struggle to pay the rent and buy food.
More than half of respondents in Hawaii, New Jersey, Nevada, Louisiana, Michigan, California, New York and Oregon said they or someone in their household had experienced a loss in employment revenue.
- Many of these states have large tourism industries and high-density cities — some of which suffered massive COVID-19 outbreaks.
Yes, but: Despite the widespread loss of income since mid-March, 72% of respondents in a new Quinnipiac University poll say their own financial situation is "excellent" or "good."
Meanwhile, a handful of Southern states saw more people struggling with essential basics like food and shelter, according to the Census survey, even though fewer people there reported experiencing pay cuts.
- In Mississippi, 45% missed last month’s rent or mortgage payment or said they had little to no confidence their household could pay next month’s rent or mortgage on time.
- 20% said they sometimes or often did not have enough to eat in the past week.
Methodology: The experimental Census survey is based on responses provided by 74,413 people for week one results and 41,996 people for week two results.
Go deeper: Coronavirus is bringing economic suffering across the U.S.