January 1, Report: 38 percent of US households face serious financial problems

A new poll found that nearly 40 percent of American households faced significant financial problems within the last few months.

The data shows that 30 percent of households earning under $50,000 a year said they lost all their savings since the start of the pandemic.

Of the respondents who reported severe financial problems, 57 percent of Latinos, 56 percent of Black people, and 50 percent of Indigenous Americans said they’d faced issues in the past few months.

The report indicates that government assistance didn’t alleviate many Americans’ financial burdens, as 67 percent said they’d received financial assistance within recent months.

Additionally, 69 percent of participants reported their children fell behind in school because of the pandemic.

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Serious financial problems afflict 40% of US households in recent months