Black and Hispanic families in the United States are taking the biggest income hit due to the coronavirus pandemic, and they are less prepared to withstand the blow, according to two studies released Tuesday.
Low-income workers, including people of color and those without a college degree, are more likely to report a job loss or a pay cut related to measures introduced to limit spread of the virus, according to a report published Tuesday by the Pew Research Center.
Minorities are also more likely to struggle after losing a job, the study showed. Only 29% of Hispanics and 27% of black adults said they had rainy day funds that would cover their bills for up to three months, compared to 53% of white adults.
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