Moira's Message: Post-Pandemic Economic Effects Still Rage
June 29, 2021 -
Dear friends,
Those hardest hit by the pandemic were those who could least afford it: people earning lower salaries.
This is probably of little surprise, but some of the national survey data we accessed paints a troubling portrait for those earning low incomes. In April, more than a year into the pandemic:
- 65 percent of those earning $25,000 or less reported unemployment in the last seven days. 51 percent of those earning $35,000 or less reported the same. Less than a quarter of those earning $150,000 or more reported the same.
- 47 percent of families earning less than $40,000 shared that they are just getting by or finding it difficult to get by.
People of color were disproportionally affected, too:
- 37 percent of Blacks reported difficulty paying usual household expenses the past seven days, while 34 percent of Hispanics/Latinos reported the same. Only 20 percent of whites reported difficulty.
- Median income for Black households, $35,000, is not only less than the 200 percent of the Federal Poverty Level, a threshold for financial stability, it is less than half the median income for white households $73,000.
Our 211 Helpline received nearly 21,000 calls from Jan. 1 to May 31. That is almost 5,000 more than during the same period of 2020. The main reason people called was for help with housing. The second most frequent reason was income support/assistance.
I relay these numbers to communicate that even as the health effects of the pandemic subside, the economic effects still rage. As an organization committed to the financial well-being of all families in our community, we have much work to do. When families thrive, our community thrives.
We continue our recovery and revitalization efforts. We will be intentional in supporting equitable recovery and addressing current gaps so all families buffer future setbacks on their own.
Please join us on this journey! Your support enables us to impact our community in great ways.
Sincerely,
Moira Weir
President/CEO
United Way of Greater Cincinnati