The economic impact of COVID-19 restrictions is quickly having an unbalanced effect on socioeconomic classes across the U.S.
According to a new survey from the Pew Research Center, people who say that they or someone in their household has lost a job or experienced pay cuts due to COVID-19 have been predominantly Hispanic and black through March and April. 61 percent of Hispanic respondents said yes, up from 48 percent in March, compared to 44 percent of black respondents – up 8 percent in one month. 38 percent of white respondents said yes to this prompt in April, which is up 9 percent since March.
The survey also showed over 70 percent of both Hispanic and black respondents don’t have financial reserves to cover for emergencies, compared to 47 percent of whites who said they didn’t.
Black and Hispanic respondents were also more likely to be having trouble paying bills due to COVID-19, with 48 percent and 44 percent, respectively, responding that they cannot pay their bills in full in April. Just 26 percent of white respondents said the same.