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Dealing with COVID-19's massive impact on employers, employee benefits, 401(k) and pension plans, health insurance, and more.

Analysis

Study: Nearly half of adults say their family has lost work or income amid the pandemic

This widespread loss of income has stark impacts, as consumers worry about being able to pay their debts and afford medical costs.

By Dylan Jackson | May 07, 2020 at 10:08 AM
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Classified ads Among 41.5% of adults who reported a loss of work, the survey found that 17.1% were laid off, 28.8% were furloughed and 27.8% lost business or work-related income. (Photo: Shutterstock)

Nearly two out of every five non-elderly adults reported that their family has lost jobs, work hours or work-related income as a result of the social distancing orders instituted in response to the novel coronavirus pandemic, according to a recent study conducted by the Urban Institute.

The Urban Institute’s Health Reform Monitoring Survey found that 41.5% of adults have seen less work and income as a result of the pandemic response resulting in a cascading effect that touches all aspects of the economy from housing, to debt to health care.

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