‘Hurt the most’: New poll finds 15% of people financially worse off one year into the pandemic

MILWAUKEE (CBS 58) – A new poll is shedding light on how Americans are doing financially one year into the pandemic.

The Impact Genome and The Associated Press-NORC Center for Public Affairs Research poll found 15 percent (38 million people) of Americans say they are worse off now than one year ago.

University of Wisconsin-Milwaukee Professor of Economics Rebecca Neumann say it’s not too surprising.

“We’re certainly on this upward trajectory, we’re coming out of this recessionary period, we are getting pretty good recovery happening, but I think it’s bifurcated,” she said. “So it certainly is those who have weathered the storm well are doing okay.”

The poll found the loss is especially being felt among those below the poverty line.

“Think about all the service sector jobs that have been lost, we’ve got restaurants that aren’t open yet, we’re still trying to get back to many of these service-centered jobs,” Neumann said. “Those are the folks that have been hurt the most in terms of their own personal finance.”

When it comes to recovery, Neumann said she believes there is one thing that could make a big difference.

“I think that really focusing some of these government policies and some of the stimulus payments to focus on those lower levels of income are really important,” she said. “I think that’s what’s going to help us get back to some better more equitable growth long term.”

Neumann said even with policies, the recovery will take time and look different for everyone.