Due to COVID-19, 57% of adult Americans are worried about their job security, while 63% are concerned about both their retirement savings and ability to make monthly student loan payments, according to a new survey released by LendED.
LendEDU, a website based in New Jersey that helps consumers learn about and compare financial products, commissioned a survey of 1,000 adult Americans. The survey was conducted by Pollfish on March 18. For some questions, the answer percentages may not add up to 100% exactly due to rounding.
Click here to see the full survey results.
Some key findings include:
- 6% of Americans have lost their jobs due to COVID-19, while 13% have seen hours partially cut, and 11% have retained their jobs but have seen their hours completely cut. 35% have seen no changes to their jobs.
- Among that group, 57% are worried about their job security moving forward.
- Before Coronavirus seriously hit the U.S., 64% of respondents were living paycheck to paycheck. 82% of those who lost their jobs due to COVID-19 were living paycheck to paycheck.
- The average American has spent $335.65 on food and supplies due to Coronavirus.
- 63% of Americans are worried about retirement savings due to COVID-19, including 67% of those ages 55 and up.
- 57% of Americans are worried about meeting monthly mortgage payments now, including 96% of those who lost their job. Those numbers are 63% and 88% for student loan payments and 54% and 93% for credit card payments.