man and woman at computer discussing finances (Photo: Shutterstock)

The COVID-19 pandemic has wrought varying degrees of economic hardship for many, but it also has led many to adjust their short- and long-term financial planning, a pair of surveys has found.

A recent survey by The Ascent of 1,997 Americans who since early March have lost income found that 41% of respondents saw a reduction in work hours, 16.8% were furloughed, and 28.3% lost their jobs. The Ascent’s report noted that the unemployment rate in the U.S.—3.5% in February, heading into the pandemic—jumped to 14.7% in April and 13.3% in May.

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