Financial vulnerability and the impact of COVID-19 on American households.

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  • Additional Information
    • Source:
      Publisher: Public Library of Science Country of Publication: United States NLM ID: 101285081 Publication Model: eCollection Cited Medium: Internet ISSN: 1932-6203 (Electronic) Linking ISSN: 19326203 NLM ISO Abbreviation: PLoS One Subsets: MEDLINE
    • Publication Information:
      Original Publication: San Francisco, CA : Public Library of Science
    • Subject Terms:
      COVID-19*/epidemiology ; Employment*; Adult ; Aged ; Economic Status ; Family Characteristics ; Female ; Humans ; Income ; Male ; Middle Aged ; Pandemics ; Surveys and Questionnaires ; United States ; Young Adult
    • Abstract:
      In May 2020, Westat, in partnership with Stanford University School of Medicine, conducted a nationally-representative household survey of American attitudes and behaviors regarding COVID-19. In this article, we examine what the Coronavirus Attitudes and Behaviors Survey tells us about the impact of COVID-19 on financial status and how this impact varies by demographic characteristics, the presence of health risk factors, and financial status (including employment factors). The survey reveals significant inequality in financial impact, as those who were most financially vulnerable prior to the pandemic found themselves under greater financial strain, while those who were more financially secure have experienced a neutral or even positive impact of the pandemic on household finances. These findings have important implications for public policy as policymakers seek to target aid to those who need it most.
      Competing Interests: The authors have read the journal’s policy and have the following competing interests: All authors are paid employees of Westat, a private research company. This does not alter our adherence to PLOS ONE policies on sharing data and materials. There are no patents, products in development or marketed products associated with this research to declare.
    • References:
      Scand J Econ. 2022 Jul 15;:. (PMID: 35942421)
      Q J Econ. 2024 May;139(2):829-889. (PMID: 38911676)
    • Publication Date:
      Date Created: 20220114 Date Completed: 20220124 Latest Revision: 20240820
    • Publication Date:
      20240820
    • Accession Number:
      PMC8759691
    • Accession Number:
      10.1371/journal.pone.0262301
    • Accession Number:
      35030175