Not out of the woods yet: Financial effects of Delta variant pummeling households
The resurgence of the pandemic is affecting finances, health care, racial/ethnic discrimination, education, caregiving, work and well-being.
Just when it appeared that the economy was starting to turn the corner last summer, the COVID-19 Delta variant delivered another financial blow to U.S. households.
NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health recently conducted a survey to examine the most serious problems facing U.S. households in the past few months when it comes to their finances, health care, racial/ethnic discrimination, education, caregiving, work and well-being.
“Even though many experts predicted the COVID-19 outbreak would already be subsiding, the Delta variant is continuing to cause problems in the lives of most households across the nation, including severe financial and health impacts on a share of households who are in crisis,” according to the survey report.
“Despite billions of dollars appropriated by federal and state governments during the COVID-19 outbreak to protect vulnerable Americans, as well as recent reports that the poverty rate has declined, results from this survey show that a substantial share of households across the U.S. have not been adequately protected from financial problems.”
Among the key findings:
Financial difficulties: 38 percent of households report facing serious financial problems in the past few months.
Income divide: There is a sharp income divide in serious financial problems, as 59 percent of those with annual incomes below $50,000 report facing serious financial problems in the past few months, compared with 18 percent of households with annual incomes of $50,000 or more. These serious financial problems are cited despite 67 percent of households reporting that in the past few months they have received financial assistance from the government.
Loss of savings: 19 percent of U.S. households report losing all of their savings during the COVID-19 outbreak and currently not having any savings to fall back on.
Behind in rent: At the time the Centers for Disease Control and Prevention’s eviction ban expired, 27 percent of renters nationally reported serious problems paying their rent in the past few months.
Learning delays: 69 percent of households with children in K-12 last school year say they fell behind in their learning because of the COVID-19 outbreak, including 36 percent reporting that their children fell behind a lot. Seven in 10 households whose children fell behind last school year believe it will be difficult for them to catch up.
Childcare shortage: One in five households with children report they have experienced serious problems getting childcare in the past few months when adults needed to work.
Lack of internet connectivity: 23 percent of households with children still report having either serious problems with their internet connection to do schoolwork or their jobs, or that they do not have a high-speed internet connection at home.
Fear of attack: One in four Asian households report fearing someone might threaten or physically attack them because of their race/ethnicity in the past few months, while 22 percent of Native American households, 21 percent of Black households, 8 percent of Latino households and 7 percent of white households also report being afraid.
Medical care delays: 18 percent report someone in their household has been unable to get medical care for a serious problem in the past few months when they needed it, with 76 percent of those unable to get care reporting negative health consequences as a result. Among households unable to get care, seventy-eight percent report having health insurance, while 22 percent report not having it.
Virtual vs. in-person doctor visits: 42 percent of households report using telehealth in the past few months, with wide satisfaction. Despite this, 64 percent of households using telehealth say they would have preferred an in-person visit.
Mental health: Half of households report someone has experienced serious problems with depression, anxiety, stress or serious sleep loss in the past few months.
Job stress: Among employed adults, 24 percent report having a worse job situation now compared to before the pandemic, while 21 percent report having a better job situation and 55 percent rate their job situation as about the same.
“These findings raise important concerns about the limited financial resources of many U.S. households to weather the economic effects of the Delta variant outbreak, as a significant share have lost their household savings during the COVID-19 outbreak and are facing major problems paying for basic costs of living, including rent, utilities and medical care,” the report concluded.
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