1-In-3 Americans Have Suffered A Layoff, Job Loss, Cut In Hours Or Income Due To COVID: Gallup

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by Tyler Durden
Tuesday, Apr 28, 2020 - 09:12 AM

Authored by Zach Hrunowski of Gallup

Nearly one in three Americans have experienced a temporary layoff, permanent job loss, reduction in hours, or reduction of income as a result of the coronavirus situation. Eighteen percent have experienced more than one of these disruptions.

Looking at these events separately, 10% of Americans report they have been temporarily laid off from work as a result of the coronavirus, and an additional 2% say that the situation has caused them to permanently lose their job. More common than loss of employment are reductions in hours (15%) and loss of income (26%).

Gallup also finds that these impacts have been more pronounced among those in lower income brackets. Among those respondents whose annual household income (before the pandemic) was less than $36,000 annually, 14% report being temporarily laid off, 4% have been permanently been let go, and 32% have seen a loss of income.

These data reinforce a recent Gallup finding that 25% of employed Americans think they are likely to be laid off in the next year. Despite this concern, among those respondents who have been laid off, 85% believe it is likely that they will be able to return to their job once the crisis has ended, with 60% saying that it is "very likely."

Good luck.