Poll: 4 in 10 Americans feeling economic pain from COVID-19 pandemic

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As business grinds to a halt and a record 16 million people apply for jobless benefits a growing number of Americans – 4 in 10 – have reported loss of income in recent weeks amid the spread of the COVID-19 pandemic across the country, according to a Monday poll from Monmouth University.

As of Monday morning, 41 percent of Americans said they’ve felt economic hardship as a result of the global pandemic, up from 35 percent in a poll last month.

The poll, for which Monmouth University interviewed 857 adults nationwide between April 3 and 7, reported that 62 percent of Americans felt the outbreak had a major impact on their daily lives, compared with 53 percent of respondents in late March.

Fifty-five percent of Americans reported their stress levels have increased, and 25 percent of respondents reported an increase in feelings of loneliness. To cope, 29 percent of respondents began adopting less healthy eating and fitness habits, according to the poll.

“Financial difficulties aren’t the only concern arising from this crisis. Many Americans are coping with challenges to their emotional well-being because of the restrictions on normal daily activities,” Patrick Murray, the institute’s director, said in the Monday morning analysis.

Despite frequent reports of grocery store raids, 48 percent of respondents said they were able to find everything they need.

Thirty percent of Americans report that someone in their household has been laid off from work because of the outbreak, including 7 percent who report that all wage-earners in their household are currently out of work. People reporting layoffs in their household include 35 percent of those earning less than $50,000 a year, 34 percent of those earning $50,000 to under $100,000, and 26 percent of those earning $100,000 or more.

The number of people working from home for the first time has also increased, from 20 percent late last month to 27 percent in the current poll. Those earning $100,000 or more (41 percent) are more likely to be working remotely than those earning $50,000 to just under $100,000 (27 percent), or less than $50,000 (21 percent).

Over two-thirds of Americans – 62 percent – said their economic situation was stable. Sixty-one percent of respondents indicated the same in March.

“Americans seem to be approaching the current situation as something that will hopefully pass quickly,” Murray added. “This could change if the immediate economic slump drags on after the health emergency passes.”

The poll found that the income group feeling the most anxiety about the pandemic was those earning above $100,000 a year.

Sixty-eight percent of respondents earning above $100,000 reported increased levels of stress, compared to 52 percent of those earning between $50,000 and $100,000, and 49 percent of respondents earning less than $50,000.