Fed Survey: Families doing better in July vs April

Author: Greg Michalowski | Category: Central Banks

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

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