Almost 60M Americans Expect Income Losses Ahead Of Presidential Election

The Census Bureau’s latest Household Pulse Survey speaks volume to the “K-shaped” recovery, where high-income Americans saw their jobs immediately return and “V-shaped” recoveries for stock and other asset prices, while middle- and lower-class people continue to experience job loss, food insecurity, unable to pay bills, and eviction or foreclosure. 

The survey, conducted from Sept. 16-28, shows 59.2 million Americans expect someone in their household to have a loss in employment or take a pay cut ahead of the presidential elections. Bloomberg points out that the working poor, more specifically, minority households continue to struggle the most economically from the coronavirus pandemic. [ … ]

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