While some U.S. consumers are doing quite well despite the pandemic, others are facing a financial crisis, and families with kids are having the hardest time.
The combination of unemployment, overdue rent, mounting bills, food insecurity, and health fears is crippling many families.
We are still are record-high unemployment rates, food pantries across the country are overwhelmed, and homelessness is on the rise. People are even giving up their pets because they can no longer afford them.
Now that unemployment benefits have expired and eviction moratoriums are soon to follow, people are going to be feeling an even bigger financial strain.
Families with children are more likely to face a job loss or loss of income and, as a result, are suffering the most.
“The bottom line: Even if Washington does pony up more financial support for cash-strapped Americans, there’s little hope for many people of long-term financial stability.”