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Coronavirus Survey: 28% Say They're Worse Off Financially Than A Year Ago

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Coronavirus Survey: 28% Say They're Worse Off Financially Than A Year Ago

A lack of understanding about the coronavirus community spread continues to fuel uncertainty among American consumers.

Our data team recently discovered that 76% of American adults are actively practicing social distancing and wearing a mask when going to places like the grocery store.

Apprehension toward another coronavirus wave could be impacting consumer sentiment as well.

Benzinga has released nationally sampled consumer sentiment survey data. Our study surveyed over 1,000 U.S. adults aged 18 and older about whether their families are overall better or worse off financially than a year ago.

We’ve detailed some of the highlights from this week’s study below.

COVID-19 Restrictions

Overall, do you think the economy is getting better or worse?

  • 39.8% said the economy is getting better.
  • 16.5% said the economy is about the same.
  • 29.9% said the economy is getting worse.
  • 13.8% said they are unsure.

Survey sample size: N=1,082

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Americans On The Economy

How do Americans perceive overall economic conditions? Our June 2020 economic climate survey asked American adults aged 18 and older if they feel the economy is getting better or worse three months into social distancing directives.

Our study found 40% of American adults saying the overall economy is improving as social distancing directives are eased across the country.

On the other hand, 30% of Americans told us they view the American economy in a state of decline.

Would you say that you and your family are better or worse off financially than a year ago?

  • 32.4% said better off financially than a year ago
  • 39.9% said about the same financially than a year ago
  • 27.7% said worse off financially than a year ago

Survey sample size: N=852

Our weekly survey found 28% of Americans told us their family is worse off financially than one year ago.

Meanwhile, two in five Americans told us they’ve not yet been financially impacted by the coronavirus pandemic, stating their household financial situation remains unchanged from a year ago.

Survey Methodology

This study was conducted by Benzinga June 15-16 and included the responses of a diverse population of American adults 18 and older.

The United States population estimates are courtesy of Census.gov. The doctors per capita data is courtesy of CountyHealthRankings.org.

Please contact henrykhederian@benzinga.com with questions or to schedule a phone or video interview with our team.

 

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