Since last reading, the HPS-CivicScience ESI plummeted to a 14-month low as COVID-19 became a full-blown pandemic in the U.S., stocks tanked, and people stayed inside.
Overall, those ‘very concerned’ about the virus over-index in thinking the economy will continue to get worse, just as they did two weeks ago. More than half of those who are least concerned anticipate things will get better in the next six months.
Personal financial outlook has gotten worse. Among those ‘very concerned’ about COVID-19, the proportion of those who think their financial situation will get worse went from 18% (last reading) to 24%.
Moreover, people are concerned about their job stability due to the coronavirus, a concern that has has risen drastically week over week.
Those in the service profession are more likely to be concerned about job stability than not, but 69% of the concerned group are in business management or ops fields. People in technical fields over-index in not being concerned about their jobs.
Concerned workers are twice as likely to say they think their financial situation will get worse over the next six months.
As it happens, this group is also very likely to think finding a new job will become more difficult.
CivicScience is tracking these questions and countless others 24/7 as the trusted source for coronavirus impact data as it pertains to consumer sentiment. We’ll report on these numbers bi-weekly following the release of the ESI.