Fed releases latest household survey trends
- US families faring better financially in July vs. April
- Many households still face uncertainty over layoffs
- 77% of households doing okay financially in July vs. 72% in April
- 70% of US adults say they could handle a $400 emergency, up from 63% in October 2019
- Improvement and financial well-being likely due to people returning to work and access to government or charitable aid
- 14% of US adults reported being laid off since the coronavirus crisis began
- 30% of US adults laid off since the crisis began had returned to their old jobs by July and 10% to different jobs
- 22% of laid-off US adults had no job and did not expect to return to all job, up from 7% in April
- Low income workers were less likely than higher income ones to get their old jobs back