The savings gap widened during the Covid-19 pandemic. Here's who was impacted the most
In fact, 58% of Americans say they are anxious about their current financial situation, the poll found. That was most prevalent in younger Americans ages 18 to 34, with 71%; renters, 70%; and those with less than $50,000 in income, 67%.
"The reality is that a lot of people are living on insufficient incomes or are unemployed and have precarious financial situations," said Shai Akabas, director of economic policy at the Bipartisan Policy Center, which works with the Funding Our Future coalition.Nearly half of men — 48% — between ages 35 to 44 now have more saved than they did before the pandemic, the survey found. But just 20% of women in that same age cohort said the same.
Another racial split was also revealed when workers were asked if they could benefit from being paid more frequently. While 59% of respondents overall agreed they would benefit, that was significantly higher for Black workers, with 74%, and Hispanics, 73%, compared to just 51% of white respondents.director of economic policy at the Bipartisan Policy Center
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