It’s no surprise that the coronavirus pandemic has brought inequities to center stage. Data from a CivicScience survey in early 2021 show that one-fourth of U.S. adults say they’re now “worse off” financially during the pandemic.
Previous CivicScience studies have shown that when asking American adults about their financial security during the pandemic, lower-income Americans (and those without college degrees) reported that they were worse off when it comes to their financial situations. As it turns out, women are disproportionately impacted.
The Pandemic Gender Gap
The relatively high percentage of people who are living with financially worse-off situations is largely driven by women who report that their financial circumstances are worse now than in pre-pandemic times. Fifty-six percent of people who reported declining financial situations were women while nearly 60% of those who said their situations were better now were men.
While the finances of women are more negatively impacted than men right now, younger women are bearing the brunt. Thirty-five percent of women between the ages of 18 and 34 say they’re worse off financially now while in contrast, only 23% of men in this particular age bracket say the same.
Another group of women who are experiencing less than ideal financial situations right now are moms. Sixty-four percent of moms say they are financially worse off now. That is a very stark contrast with the 36% of dads who say the same.
The pandemic won’t be in the rear-view mirror any time soon and neither will the financial disparities it’s caused. CivicScience is constantly tracking COVID-19’s impact on Americans – sign up to receive our twice-weekly insights here.
