Data gathered from a recent survey released by the U.S. Census Bureau indicated that individuals who were younger or of lower-income households were experiencing more personal worries and financial woes as a result of the COVID-19 pandemic than those who were of an older age.
The data was gathered for the Census’ weekly Household Pulse Survey, with the most recent results focusing on the date range of June 4 to June 9.
For respondents in the 25-39 age group, a greater percentage indicated than those who were 65 that they had "slight or no confidence" in their ability to pay next month’s rent or mortgage on time. Members of the 25-39 group also indicated in a higher percentage that they were facing food insecurity, were feeling depressed and hopeless, and were "unable to stop worrying."
Individuals who had an income less than $25,000 also indicated in higher percentages than those earning $100,000 or more that they were facing the same woes.
The U.S. Census Bureau originally launched the Household Pulse Survey to obtain data on the social and economic impacts of the coronavirus pandemic on Americans. Insights from previous findings showed that demonstrations and debate over systemic racism has disproportionately impacted the mental health of Black Americans, compared to other races.
The insights gathered from the U.S. Census survey align with other troubling economic findings that have bubbled up during the COVID-19 pandemic.
In May, existing home sales plunged 9.7%, making it the third straight decline in a row, according to the Associated Press.
While overall unemployment numbers for May had declined, the 13.3% total U.S. unemployment rate noted by the U.S. Bureau of Labor Statistics was still on par with Great Depression levels.
Several states and countries have reopened parts of their economies, but data is already indicating that those reopenings are contributing to a new surge of COVID-19 cases.
In Florida, for example, the number of daily confirmed cases has continued to increase significantly following the state’s early ease on lockdown measures.
On Monday, the number of confirmed COVID-19 cases surpassed 9 million worldwide, according to data from the Johns Hopkins Coronavirus Resource Center.