Survey shows millions of Americans falling further into debt, losing work amid pandemic

ByABC7.com staff KABC logo
Wednesday, April 8, 2020
Poll: Millions of Americans falling further into debt
An exclusive poll for Eyewitness News shows millions of Americans are falling further into debt because of the coronavirus pandemic.

An exclusive new Eyewitness News poll released Tuesday shows the growing financial impact of the coronavirus emergency.

The Survey USA poll projects that 21 million American households are now falling further into debt due to the pandemic.

The poll indicates an acceleration of job losses from a similar survey released on March 19.

About 18 percent of the work force has been laid off - that's up from 14% in late March when many stay-at-home orders first went into effect.

Additionally, 24% of workers have now had their hours reduced - but that number hasn't changed much in the last couple weeks.

Survey USA interviewed 1,000 adults online nationwide on April 6 and 7.

Here are some of the additional questions and results:

For homeowners: How concerned are you that, because of the virus, you may have trouble making your monthly mortgage payment on time?

23% Very

31% Somewhat

26% Not Very

20% Not At All

1% Not Sure

For renters: How concerned are you that, because of the virus, you may have trouble paying the rent on time?

29% Very

33% Somewhat

18% Not Very

18% Not At All

2% Not Sure

My hours have been reduced because of the virus:

24% Yes

76% No

I have been laid off because of the virus:

18% Yes

82% No

I have completely lost my job because of the virus:

5% Yes

95% No