The widespread financial devastation brought by the pandemic continues to take a severe toll on lower-income and many middle-income Americans, according to a new study by Capital One Bank.
The suffering and stress on lower-income Americans (earning less than $25,000) shows few signs of improving any time soon, the study finds. Lower-income earners told those conducting the poll that they felt almost as insecure in August 2021 as they did in 2020. During the worst times of the pandemic, six in 10 felt financially insecure. Half still feel insecure.
By contrast, higher-income earners (above $100,000 a year) are enjoying a robust recovery from the pandemic.