The latest results of a weekly survey of U.S. adults found “slightly less intense” emotions and concerns about the impact of the COVID-19 crisis on jobs and incomes.
However, two-thirds of Americans (65 percent) remain worried they may lose their jobs -- down from 70 percent last week -- while about half are worried the crisis will negatively impact their finances, according to the survey report from the Strada Education Network, a nonprofit that researches and funds education and employment pathways.
This installment of the nationally representative weekly survey of 1,000 adults was conducted on April 8-9.
The job impact appears to be most felt by millennials, according to the survey. This group and Generation X were more likely to report losing work or pay, the survey found, and to say they would need more education or training to replace a lost job (see below).
“Millennials reported the greatest career impact of the crisis so far -- the same generation that faced the Great Recession during their early careers,” Dave Clayton, Ph.D., senior vice president at the Strada Center for Consumer Insights, said in a written statement. “In the coming weeks, we are paying close attention to how demographic and geographic differences in the data may surface new insights into how we chart a path forward.”
For example, 61 percent of millennial respondents said they have either lost jobs or had their hours or income reduced, compared to 55 percent of respondents over all.
The survey also found that 70 percent of adults believe the effects of the crisis on them personally will not last longer than six months. One-third believe they will need more education to find a comparable job if they lose theirs. And Gen Xers and Millennials were most likely to say that if they lost their job, they would need more education to maintain their current wage or salary.