UM21-11: The Immediate Impacts of Coronavirus on Americans’ Economic Security

Researchers

Abstract

The ongoing COVID-19 pandemic has caused an unprecedented, abrupt, and stark reduction in economic activity. This project will examine how the pandemic is affecting Americans’ financial well-being using previous, ongoing, and soon to be fielded Understanding America Study surveys that track respondents’ financial lives in detail. Our results will shed light on how the pandemic and the associated economic crisis are affecting Americans’ economic security, how the impact varies across age and demographic groups, and how the pandemic is changing expectations about retirement and influencing Social Security claiming behavior.

Project Year

2021