Inequality in the Impact of the Coronavirus Shock: New Survey Evidence for the US

Abi Adams-Prassl, Teodora Boneva, Marta Golin and Christopher Rauh

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: Using new US survey data collected on March 24th 2020, we already find that: 65% of workers engaged in less paid work over the past week than usually. 11% of workers had already lost their job due to COVID-19. For those still in work, the expected probability of job loss within the next four months is 40%. On average, workers expect to earn 39% less in the next four months compared to usual. As a consequence, workers expect there is a 56% chance of having problems paying their bills. 93% of respondents expect to have problems paying usual bills with above zero probability. The harsh impacts are not evenly distributed across the population; the young ,and low income earners have been hit hardest. Workers without paid sick leave are more likely to go to work in close proximity to others.

Keywords: COVID-19 (search for similar items in EconPapers)
Date: 2020-04-01
New Economics Papers: this item is included in nep-hea
Note: cr542
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Citations: View citations in EconPapers (257)

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http://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe2022.pdf

Related works:
Working Paper: Inequality in the Impact of the Coronavirus Shock: New Survey Evidence for the UK (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:2022

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