Fed survey: Overall share of working adults dropped 2 pp due to child care and schooling

Author: Adam Button | Category: Central Banks

Fed survey on US households

  • 9% of all parents weren't working because of disruptions in child care and schooling; 13% were working less
  • Gap between college degree holders and non-holders expanded by 10 pp from 2019 survey
  • 64% of adults said they could cover an unexpected $400 expense with case, the same as pre-pandemic survey
  • Nearly 25% of adults said they were worse off financially compared to 14% in 2019
  • 75% of adults said they were either doing 'okay' or living comfortably, unchanged from 2019
The Fed believes that workers will return to the workforce after covid once schools and daycares open up and there's certainly some evidence for that here. There are also some real worries building about how people at the bottom of society have done in the past year.

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